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What is the circulation amount of Celsius (CEL) coins?
As of February 2023, approximately 47% of the total supply of Celsius (CEL) coins, or 237,122,739 CEL, is in circulation.
Nov 29, 2024 at 06:56 am
What is the Circulation Amount of Celsius (CEL) Coins?
Celsius (CEL) is a cryptocurrency that powers the Celsius Network, a platform that allows users to earn interest on their crypto assets and borrow against them. CEL is used to pay for fees on the Celsius Network, and it also gives holders voting rights on the platform's governance decisions.
The circulation supply of CEL is 237,122,739 CEL as of February 2023. This represents approximately 47% of the total supply of CEL, which is 500,000,000 CEL. The remaining 53% of CEL is held by the Celsius Network team and early investors.
How is the Circulation Amount of CEL Determined?
The circulation amount of CEL is determined by the number of CEL tokens that are currently in circulation. This includes all CEL tokens that have been issued and are not held by the Celsius Network team or early investors.
What Factors Affect the Circulation Amount of CEL?
The circulation amount of CEL can be affected by a number of factors, including:
- New CEL issuance: The Celsius Network team can issue new CEL tokens to fund the platform's operations or to reward users.
- CEL burns: The Celsius Network team can also burn CEL tokens to reduce the circulating supply.
- CEL buybacks: The Celsius Network team can buy back CEL tokens from the market to reduce the circulating supply.
- User activity: The amount of CEL that is in circulation can also be affected by user activity on the Celsius Network. For example, if users are depositing more CEL into the platform, the circulation supply will increase.
What is the Impact of the Circulation Amount of CEL?
The circulation amount of CEL can have a number of impacts on the price of CEL. In general, a lower circulation supply can lead to a higher price for CEL, as it makes the token more scarce. Conversely, a higher circulation supply can lead to a lower price for CEL, as it makes the token less scarce.
How Can I Track the Circulation Amount of CEL?
The circulation supply of CEL can be tracked on a number of websites, including:
- CoinMarketCap
- CoinGecko
- Binance
Conclusion
The circulation amount of CEL is an important factor to consider when evaluating the token's price. By understanding the factors that affect the circulation supply, investors can make more informed decisions about whether to buy, sell, or hold CEL.
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