The CEL token of Celsius Network, the crypto lending and savings platform, continued to grow exponentially, rising by more than 50% over the past 7 days. In addition, the token almost doubled in price in June only, seeing an increase of 87% over the past 30 days. After the spring crash of the cryptocurrency market, CEL grew by more than 800%, starting from the price on March 13.
For a short while, the token entered the list of 50 crypto assets by market capitalization. CEL currently ranks 68th on the list, with a market capitalization of $113 million.
The Celsius Network originally launched CEL through a token sale in 2018, but the price of the crypto and the use of the platform itself have increased significantly due to the current DeFi boom in the market. This week, Celsius said it has reached yet another record level of pay-outs to investors on the platform in the amount of $ 407,000 per week. In addition, the total amount of deposits of crypto assets on the Celsius platform reached $1 billion, less than two years after the launch of the mobile application.
Image courtesy of Bits Media