Coin overview
CEL overview
About CEL
Coin-related
Price calculator
Price history
Price prediction
Technical analysis
Coin buying guide
Crypto category
Profit calculator
Trade-related
Buy/Sell
Deposit/Withdraw
Spot
Margin
USDT-M futures
Coin-M futures
Trading bots
Copy trading
Earn
Pre-market
Coin updates
Celsius news
Celsius flash
Events Calendar
ICO
Airdrop
Other products
BRC-20 prices
Crypto directory
Crypto encyclopedia
Crypto glossary
![Celsius](https://img.bitgetimg.com/multiLang/coinPriceLogo/34d0a477dd6cee7df52cf2958c4c13ef1710522132351.png)
Celsius priceCEL
Celsius price calculator
More cryptocurrencies calculator >Celsius price live data summary
What is the highest price of CEL?
What is the lowest price of CEL?
Celsius price prediction
When is a good time to buy CEL? Should I buy or sell now?
What will the price of CEL be in 2025?
What will the price of CEL be in 2030?
Celsius ratings
About Celsius(CEL)
What Is Celsius Network?
Celsius Network is a regulated cryptocurrency lending platform, headquartered in the United States, that has made significant waves in the digital asset space. Founded in 2017 by Alex Mashinsky, Daniel Leon, and Nuke Goldstein, the network offers a unique proposition for crypto users: the ability to deposit various digital assets to earn high returns or to secure loans. In 2018, Celsius Network conducted a highly successful Initial Coin Offering (ICO) for its native token, CEL, raising an impressive $50 million. This marked the beginning of a period of exponential growth, with the company managing approximately $12 billion in assets and establishing itself as a prominent player in the market.
However, the journey was not without its challenges. The firm faced multiple controversies and eventually filed for bankruptcy in 2022, citing poor asset deployment decisions. Currently, Celsius Network is undergoing restructuring as part of the bankruptcy process.
Resources
Official Website: https://celsius.network/
How Does Celsius Network Work?
Celsius Network operates in a way that mirrors traditional banking systems, but with a focus on cryptocurrency. Users can deposit their crypto assets into Celsius to earn interest, similar to a savings account in a conventional bank. This feature has made it an attractive option for individuals looking to generate passive income from their cryptocurrency holdings. Additionally, Celsius extends the facility to borrow money against these deposits. This service is particularly beneficial for those who need liquidity but do not wish to sell their crypto assets, thereby avoiding potential capital gains taxes and maintaining their investment in the market.
The platform's operations are significantly enhanced by its native token, CEL. CEL plays a central role in the Celsius ecosystem, being used for various purposes including taking out loans, earning rewards, and making payments. Furthermore, Celsius has implemented a loyalty program that is directly tied to the amount of CEL a user holds. This program offers multiple tiers, each providing additional benefits such as bonus rewards and reduced interest rates on loans. This tiered system incentivizes users to hold and use CEL, thereby increasing its utility and value within the platform.
What Is CEL Token?
CEL is the native token of the Celsius Network, serving multiple functions within its ecosystem. CEL is used for loan acquisition, reward distribution, and payments. The token's utility is further enhanced by the Celsius loyalty program, where the user's status and corresponding benefits are determined by the proportion of CEL in their portfolio. This system encourages users to invest in and hold CEL, creating a robust internal economy and fostering a sense of community among users. The token's role in the platform's operations and its integration into the loyalty program make it a vital component of the Celsius Network, contributing significantly to its overall functionality and appeal.
Celsius Network's Downfall: From Crypto Titan to Bankruptcy and Legal Battles
In June 2022, the cryptocurrency world was shaken by the dramatic collapse of Celsius Network, a once-thriving crypto lending platform. Founded in 2017, Celsius Network had grown to manage assets worth $11.7 billion, boasting a user base of 1.7 million. However, the company faced a severe crisis when it abruptly froze all customer accounts on June 13, 2022, citing "extreme market conditions." This move not only sent shockwaves through the price of Bitcoin and other cryptocurrencies but also revealed the precarious financial state of Celsius. Court filings later showed that the company was in a dire situation, with liabilities of $5.5 billion against assets of just $4.3 billion, leaving a staggering deficit of $1.2 billion.
The downfall of Celsius Network can be attributed to a confluence of risky investments and market conditions. The platform's heavy investment in the LUNA's Anchor protocol and its high-risk strategies involving Wrapped BTC (WBTC) and DAI, as well as ETH and stETH, played a significant role in its collapse. These decisions, coupled with the broader crypto market downturn, led to an acute liquidity crisis for Celsius. To prevent a total drain of their holdings, the company halted all withdrawals, swaps, and transfers, effectively locking users out of their assets. This decision marked a turning point for Celsius, leading to the filing of Chapter 11 bankruptcy on July 14, 2022. The company's CEO, Alex Mashinsky, resigned in September 2022, amidst growing scrutiny and legal challenges.
The aftermath of Celsius Network's collapse has been marked by legal battles and regulatory actions. Alex Mashinsky, the former CEO, was arrested and faces criminal and civil charges related to his role in the company's downfall. The U.S. Justice Department, along with other federal regulators like the CFTC, FTC, and SEC, have been building cases against Celsius for various regulatory violations. The New York attorney general filed a lawsuit against Mashinsky for allegedly making false and misleading statements, leading to significant investor losses. As of now, Mashinsky has pleaded not guilty to all charges, and Celsius continues with its bankruptcy proceedings, leaving many investors uncertain about the fate of their assets.
Celsius price performance in USD
Celsius price history in USD
Celsius market information
CEL to local currency
Crypto calculatorHow to buy Celsius(CEL)
![Create Your Free Bitget Account](/price/_next/static/media/HTB_step1.fc7a3f4a.png)
Create Your Free Bitget Account
![Verify Your Account](/price/_next/static/media/HTB_step2.2d71969a.png)
Verify Your Account
![Buy Celsius (CEL)](/price/_next/static/media/HTB_step4.449f78aa.png)
Buy Celsius (CEL)
Trade CEL perpetual futures
After having successfully signed up on Bitget and purchased USDT or CEL tokens, you can start trading derivatives, including CEL futures and margin trading to increase your income.
The current price of CEL is $0.1385, with a 24h price change of -0.38%. Traders can profit by either going long or short onCEL futures.
Join CEL copy trading by following elite traders.
Celsius news
See more![Opinion: Why I am skeptical about BTCFi?](https://img.bitgetimg.com/multiLang/image/social/900913a8a721f6e59ee5205b1c1ac33e1725629171351.jpeg)
![Nexo resumes UK client registrations after upgrade to meet FCA compliance guidelines](https://img.bitgetimg.com/multiLang/image/social/bf0c31a15a01f88d8f025a73b705afcd1725361577707.jpg)
Quick Take Centralized crypto lender Nexo has resumed UK client onboarding following a series of upgrades to meet the compliance requirements of the country’s financial regulator. Changes include cool-off periods, specialized risk warnings and dedicated support.
![Bitcoin mining cuts methane emissions, study finds](https://img.bitgetimg.com/multiLang/image/social/6a178a9cf7886db6a92698eddddfaff71725065282100.jpg)
Share link:In this post: A study explores how Bitcoin miners can use “Landfill Gas to Energy” (LFGTE) systems to capture and utilize methane gas. Methane levels have increased threefold since the Industrial Revolution. The researchers propose that Bitcoin mining could also recycle energy from other sources.
Buy more
FAQ
What is the current price of Celsius?
What is the 24 hour trading volume of Celsius?
What is the all-time high of Celsius?
Can I buy Celsius on Bitget?
Can I get a steady income from investing in Celsius?
Where can I buy Celsius with the lowest fee?
Where can I buy Celsius (CEL)?
Trade
Earn
CEL/USDT
SpotCEL/USDT
MarginCopy trading
Related assets
![share](/price/_next/static/media/share.a152cde6.png)
Celsius Social Data
In the last 24 hours, the social media sentiment score for Celsius was 3, and the social media sentiment towards Celsius price trend was Bullish. The overall Celsius social media score was 451, which ranks 50 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with Celsius being mentioned with a frequency ratio of 0.01%, ranking 348 among all cryptocurrencies.
In the last 24 hours, there were a total of 240 unique users discussing Celsius, with a total of Celsius mentions of 76. However, compared to the previous 24-hour period, the number of unique users increase by 27%, and the total number of mentions has decrease by 71%.
On Twitter, there were a total of 2 tweets mentioning Celsius in the last 24 hours. Among them, 50% are bullish on Celsius, 50% are bearish on Celsius, and 0% are neutral on Celsius.
On Reddit, there were 58 posts mentioning Celsius in the last 24 hours. Compared to the previous 24-hour period, the number of mentions increase by 18% .
All social overview
3