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What is the issuance price of Celsius (CEL) coins?
Issued at $0.20 in 2018, Celsius Network's (CEL) value has been impacted by interest rates, demand for crypto lending, tokenomics, market sentiment, and the platform's recent bankruptcy.
Nov 28, 2024 at 05:34 pm
What is the issuance price of Celsius (CEL) coins?
Introduction
Celsius Network is a crypto lending and borrowing platform that allows users to earn interest on their crypto deposits and borrow crypto against their collateral. The platform's native token, CEL, is used to pay for transaction fees, earn rewards, and participate in governance.
Issuance Price of CEL
The initial issuance price of CEL was $0.20 in June 2018. The token was sold in a private sale to a select group of investors.
Factors Affecting CEL Price
The price of CEL is influenced by a number of factors, including:
- Interest rates: CEL holders earn interest on their deposits, so the price of CEL is affected by changes in interest rates.
- Demand for crypto lending: The demand for crypto lending and borrowing services affects the demand for CEL.
- Tokenomics: The tokenomics of CEL, including the total supply and distribution, affect the price.
- Market sentiment: The overall market sentiment towards cryptocurrencies affects the price of CEL.
Subsequent Price Movements
Following the initial issuance, the price of CEL fluctuated significantly. It reached a high of $8.05** in May 2021, but fell to a low of **$0.08 in June 2022.
Impact of Celsius Bankruptcy
In July 2022, Celsius Network filed for Chapter 11 bankruptcy protection. This had a significant impact on the price of CEL, which fell by over 90% in the days following the announcement.
Current Price of CEL
As of [date], the price of CEL is $0.34. This represents a significant decline from its peak price in May 2021.
Conclusion
The issuance price of CEL was $0.20 in June 2018. The price of CEL has fluctuated significantly since then, and is currently trading at $0.34. The price is influenced by a number of factors, including interest rates, demand for crypto lending, tokenomics, market sentiment, and the Celsius bankruptcy.
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