The price of CEL has soared by a whopping 115% in the past 24 hours despite the fact that users' accounts on Celsius Network remain frozen.
The native cryptocurrency of Celsius Network – CEL – has skyrocketed by some 115% in the past 24 hours alone. This comes as the broader market sees a relief following last week’s devastating drops.
CEL is the strongest performer in the past 24 hours, charting an increase of some 115%, which adds up to a whopping 380% over the last seven days.
At the time of this writing, the cryptocurrency trades at slightly below $1.4.
Source: CoinGecko
This massive move also brought about $1.78 million worth of liquidated CEL positions, according to data from Coinglass.
Interestingly, the move comes on the back of seemingly negative news. As CryptoPotato reported yesterday, the platform stated that they won’t unfreeze accounts and will also pause Twitter spaces and AMAs in a bid to focus on handling the issues at hand.
It has been one week since we paused withdrawals, Swap, and transfers. We want our community to know that our objective continues to be stabilizing our liquidity and operations. This process will take time. – Read the statement.
Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn
