Celsius Network Price Overview
Celsius Network's native token CEL is currently priced at $0.07943 with:
- 24-hour trading volume: $600,962
- Circulating supply: 37.72M CEL tokens
- Price change (24h): +0.00%
Understanding Celsius Network
Celsius Network operates as a centralized finance (CeFi) platform offering:
- Interest-bearing savings accounts
- Crypto-backed lending services
- Fiat on-ramp capabilities
Built around its ERC-20 utility token (CEL), the platform enables:
- Low-cost crypto loans
- Weekly reward distributions
- Payment processing capabilities
Key differentiators:
- 80% revenue sharing with community members
- No withdrawal/deposit fees
- 1M+ registered users with $25.2B in historical loans processed
- $929M+ distributed in yield rewards
Historical Timeline
2017: Founded by Alex Mashinsky and Daniel Leon
2018:
- Successful $50M ICO (March)
- Initial token supply: 650M CEL
2019: Mobile wallet launch
2021:
- 400K+ active users
- $9B in deposits
- $450M equity funding raised
2022:
- SEC investigation into yield products
- Withdrawal freeze announced (June 13)
- CEL price decline (~97% from ATH)
Platform Mechanics
Core Features:
- Smart contract-controlled token release (50% initial circulation)
- Loan activation threshold: $1.50 CEL price for 10+ days
- Weekly interest payments in crypto or stablecoins
Revenue Model:
- 20% retained for operations
- 80% redistributed to users
Token Utility:
- Reward boosts (up to 30% higher yields)
- Loan discounts (25% rate reduction)
- 6.68% APY for CEL holdings
Primary Use Cases
Alternative Banking
- "Unbank yourself" philosophy
- Credit-history independent lending
Passive Income Generation
- High-yield savings accounts
- Weekly compounding rewards
Cost-Efficient Borrowing
- Crypto-collateralized loans
- Lower rates for CEL holders
FAQ Section
Q: Is Celsius Network decentralized?
A: No, it operates as a centralized CeFi platform despite using blockchain technology.
Q: What happened in June 2022?
A: Celsius paused withdrawals due to extreme market conditions following the LUNA collapse.
Q: How are rewards calculated?
A: Based on three factors: asset type, loyalty tier (CEL holdings), and interest earned.
Q: What's special about CEL tokenomics?
A: Only 50% were initially released, with price-based controls on new loan issuance.
👉 Discover how Celsius compares to other lending platforms
Q: Can you withdraw anytime?
A: Yes, except during the temporary withdrawal pause implemented in 2022.
Q: What APY does CEL offer?
A: Holders currently earn 6.68% APY on CEL deposits.
👉 Learn about ERC-20 token standards
Key Takeaways
While facing recent challenges, Celsius Network pioneered:
- Community-first revenue sharing
- Barrier-free crypto lending
- Institutional-grade yield products
The platform demonstrates how👉 blockchain can disrupt traditional finance, though users should carefully assess risk factors in volatile market conditions.