Celsius Gains Almost 300% in a Week Following Recent Network Withdrawals Suspension

A crypto landing platform Celsius confirmed having issues with liquidity and paused customer withdrawals last week.

However, strangely enough, the network’s native token CEL has shot up in value since then.

Hitting the bottom of $0.20 last Monday, the coin has been surging dramatically after. The price of CEL rose by around 270% in the last 7 days and by 50% in the last 24 hours. Earlier today the currency reached the high of $1.55 but dropped a little bit later. At the moment of writing, CEL is trading at $1.20.

The unexpected surge in the coin’s value is believed to be the consequence of a short squeeze setup. Around 87% of all CEL tokens supply is supposedly locked on the Celsius network. Meanwhile, the platform has reported that it’s currently working on stabilizing its liquidity and operations.

Just a reminder that you can buy, sell, and swap CEL at the best rates on ChangeNOW.

Celsius Gains Almost 300% in a Week Following Recent Network Withdrawals Suspension