As of the current date, 21st May 2023, the Celsius coins price is .50 USD. The price has shown significant growth over the past few years, and it is expected to keep rising in the upcoming years.
One of the reasons for the growth of the Celsius coin is the increasing demand for the Celsius Networks services. The platform has over 1 million users, and the number is growing every day. More people are turning to blockchain-based lending platforms like Celsius because they offer better interest rates and more flexibility compared to traditional banking systems.
Another factor that contributes to the rise of CELs price is the deflationary nature of the token. Celsius Network buys back tokens from the open market using 20% of its revenue. This process reduces the supply of the CEL token over time, making it a scarce asset. As the demand for CEL increases, and the supply continues to decrease, the price of the token is likely to go up.
Moreover, the recent partnership announcements made by Celsius Network have also contributed to the rise in CELs price. For example, in March 2023, Celsius announced a collaboration with Chainlink, a leading oracle network provider. This partnership would allow Celsius to connect to external data sources, providing accurate pricing information to its users. Such collaborations increase the credibility of the Celsius Network, leading to an increase in the demand for CEL.
In conclusion, the Celsius coins price has shown an impressive growth rate, making it a reliable investment option. The increasing demand for blockchain-based lending platforms like Celsius, along with the deflationary nature of the CEL token and the recent partnership announcements, are some of the factors that have contributed to the rise in CELs price. It will be exciting to see how the Celsius Network evolves and how its native tokens value reflects its growth.
