Celsius Network is a platform that provides credit services, deposits, and payment services using cryptocurrencies. It also includes a cryptocurrency custodial wallet. The project was launched in 2018 with the help of an ICO, which raised the planned $50 million. At the moment, work is supported with more than 30 cryptocurrencies and stablecoins, including stablecoins equated to gold.
CEL is a functional platform token, the presence of which was originally included in the White Paper of the project. Since the start of sales, its value has increased by more than 14,000%. The token is located on the Ethereum blockchain and has a limited supply. The main purpose is that its holders are provided with more favorable commissions on loans and deposits. The more tokens a user has, the higher his status and more benefits.
Celsius Network positions itself as a project with a long-term mission — to help people avoid the problems they face in traditional banks. Blockchain components and the principle of revenue sharing between users is an attractive opportunities for borrowers and lenders. The CEL token has a real actual value, this determines its growth and prospects. Token holders have the opportunity to take more profitable loans secured by cryptocurrency and earn higher profits from deposits.