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

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.