Celsius Network priceCEL

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CEL price live data

The current price of Celsius Network is --, with a 24-hour trading volume of --. In the last 24 hours, the price of Celsius Network decreased by 2.23%. With a circulating supply of 423,415,980 CEL, Celsius Network's fully diluted market cap stands at --. Currently, Celsius Network ranks No.312 by market cap. The CEL to price is updated in real-time.

Celsius Network market information

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423,415,980 CEL
Market cap at circulating supply

About Celsius Network (CEL)

Celsius Network is a centralized, one-stop finance platform that lets cryptocurrency users lend and borrow money in the form of fiat currency and stablecoins using crypto assets as collateral. The ticker symbol and name of its native ERC-20 token is CEL.

Celsius allows you to deposit cryptocurrency into the Celsius wallet, apply for loans, pay interest on loans at a discount and earn interest rewards by lending crypto assets.

Borrowing from Celsius is conducted using U.S. dollars or stablecoins at an APR as low as 1%, with users' crypto holdings acting as collateral without any credit checks. The platform supports over 40 cryptocurrencies, including BTC and ETH and stablecoins, such as USDT and USDC.

Depending on the cryptocurrency, users can earn high interest of up to 17% annual percentage yield (APY) by storing crypto in a Celsius savings account.

Celsius is a centralized platform with several security measures, including password protection, two-factor authentication and biometric security. Further, users cannot withdraw over $150,000 without manual verification.

In December 2020, Celsius Network partnered with Chainalysis to execute an audit that provided the first third-party verification of Celsius Network's assets (which were worth $3.31 billion at the time). Further, on Aug. 5, 2021, Celsius partnered with Chainlink to become one of the first CeFi platforms to issue loans based on an entirely decentralized and transparent pricing mechanism.

Celsius has built its infrastructure to offer customizable services for businesses, family offices, and high-net-worth clients. As of Oct. 22, 2021, Celsius claims over 1 million community members, more than $26.88 billion in community assets and $8.20 billion in loans processed.

CEL price and tokenomics

CEL has a total token supply of over 695 million. 75% of the tokens are currently in circulation, while 25% are still locked, as CEL is a pre-mined token. In its initial coin offering held in March 2018, 40% of tokens were allocated in a presale at $0.20 per token. Meanwhile, another 10% were distributed via a public sale at a $0.30 per token price.

The platform also claims to provide up to 25% in rewards, 25% in discounts on loans, and an APY of 4.86%.

CEL's price and tokenomics are based on a symbiotic relationship between institutional traders that borrow coins and pay the fees in CEL and crypto holders who receive interest on lent coins. This dual-sided system drives the demand-supply cycle of the token.

About the founders

Alex Mashinsky is the founder and CEO of Celsius. He has founded seven NYC-based startups, two of which were among the city's top 10 venture-backed exits since 2000. Mashinsky is associated with over 30 patents relating to exchanges, voice-over-IP technology and more.

The founding president and COO of Celsius, Daniel Leon, has co-founded and led multiple companies. He has also worked in notable roles, like managing partner at Governing Dynamics and CEO of Atlis Labs.

Syed Fazli, the CTO of Celsius Network, had worked in various engineering and leadership roles at Bloomberg before joining Celsius.

Celsius has strategic partnerships with several well-known crypto organizations, including Voyager, Bitfinex, Liquid, Monarch, and many more.

Learn more about Celsius Network (CEL)

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Celsius Network FAQ

What is CEL?
Celsius is a CeFi platform specializing in lending and borrowing fiat money and stablecoins using crypto assets as collateral. It supports over 40 crypto assets and offers its users low borrowing rates and high returns on savings. CEL is the ticker and name for its ERC-20 utility token.
How does CEL work?

Celcius Network is an all-in-one platform where users can take loans using cryptocurrencies, earn loyalty benefits and make payments.

Users can deposit their crypto assets to Celsius Network to earn returns on them, or they can borrow fiat money using their crypto assets as collateral. Additionally, the platform incentivizes using its native token by giving better interest rates and rewards when members use CEL.

Moreover, CEL's tokenomics is community-driven, with most profits invested in the platform. Celsius also has its quick-payment protocol, CelPay, which users can use to send any cryptocurrency to other Celsius accounts.

How can I buy CEL?

You can buy CEL from OKX exchange. OKX offers the CEL/USDT and CEL/USDC trading pairs.

Before you begin trading with OKX, you need to create an account. Then, to trade CEL/USDT or CEL/USDC, click "Basic trading" under "Trade" on the top navigation bar.

If you do not have USDT or USDC, you may buy USDT or USDC with your preferred fiat before swapping it for CEL in the trading terminal.