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Celsius (CEL). Explained

In 2017, Alex mashinsky and Daniel Leon, the Israeli-American entrepreneurs, claimed that they were dissatisfied with the development direction of traditional finance and hoped to bring back the priority of fair interest, zero fee and fast transaction to consumers. Their stated goal is to subvert the financial industry and make it more accessible.

Celsius offers a wide range of banking functions. Users can borrow money, earn interest and buy digital assets. The platform mainly obtains users through attractive interest rates. But there is also a problem. Celsius draws a 20% profit margin from interest payments.

The founder of cryptocurrency banking platform has experience in this field. Masinsky has a history in the field of Internet development. His name includes seven start-ups. Leon also has entrepreneurial experience, and previously focused on the development of early-stage enterprises.

CEL is the ERC-20 token behind Celsius. It can be used to generate incentives, provide loan discounts and obtain higher interest rates. The more tokens an investor holds, the greater these rewards. Can it continue to attract more investors?

In January, 2022, CelsiusX was launched as the DeFi Department of Celsius ecosystem. The platform aims to give priority to the interoperability between blockchain and tokens. Celsius is trying to bring higher returns and available loans to the public. Its slogan is “a wallet that gives you returns”.

Since the launch of CelsiusX in 2018, CEL climbed to an all-time high of $8.02 in June 2021. Since the price transaction, the currency has been in a downward trend to a large extent. Cel showed some short-term signs of recovery, but the collapse and dispute of cryptocurrency led to the currency sinking to an all-time low.

The Turbulent Period of CEL

Like most cryptocurrencies in early 2022, CEL was also in a downward trend. On January 24, 2022, the Ethereum based token fell to a 14-month low of $2.01. The main focus of the token seems to be interoperability. The company disclosed in a blog post that it is cooperating with blockchain and packaging cryptocurrencies such as Polygon, including Doge.

On February 22, CelsiusX platform launched the DeFi version of Celsius, which had been sideways adjusted at the price of about $3.30 until April.

On April 15, 2022, Celsius explained that only “accredited” American investors could add new assets and obtain rewards on Celsius earn platform. According to the code, in order to be recognized in the United States, investors must have “a minimum annual income of $200000, or a net asset of more than $1million”.

Celsius Price Forecast

WalletInvestor was extremely bearish, calling CEL a “bad” long-term investment. Its Celsius price forecast for 2022 shows that CEL will lose most of its value this year and fall to $0.07 in December.

DigitalCoinPrice is bullish. It believes that CEL will soar to $1.30 in July, representing an increase of nearly 38%. The website predicts that the annual average price will be $1.38 in 2023 and $1.37 in 2024. The website predicts that the Celsius price in 2025 will be $1.83, but it will be $1.73 in 2026 and $2.32 in 2027. The website’s forecasts for 2028 and 2029 are $2.93 and $3.83 respectively. The price of centigrade is predicted to be worth $4.30 in 2030.

Gov Capital’s CEL price forecast is even more ambitious. It believes that the token will reach $7.16 in one year and a staggering $46.17 in five years.Celsius seems to have won over analysts and investors and launched a new DeFi platform. Many people hope that this may be a successful era for banking platforms. However, there are still many mature platforms to compete with in the defi industry, and Celsius seems to be particularly affected by the recent slump.

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