What is Celo Crypto & what is its price prediction?

June 23, 2021 11:49 PM AEST | By Anuj

What is Celo Crypto & what is its price prediction? — Image source: Copyright © 2021 Kalkine Media

Celo (CELO) & Celo USD (CUSD)

CELO is a crypto exchange-traded ERC-20 token that aims to enter the global payment infrastructure. The total number of blocks mined for this cryptocurrency stood at 7.37 million as of June 23. It has recorded 8.41 million transactions so far through its 766,500 mainnet addresses.

However, there is a big drawback. This crypto token cannot be transferred to Ethereum-based MetaMask wallet. Since Celo tokens work on independent blockchain, it can be a problematic factor for decentralized finance users. Celo has its own designed wallets that do not allow transfer of digital tokens to other blockchain-linked wallets and vice versa.

On June 23, the CELO jumped more than 27 per cent in 24 hours on the back of a V-shaped recovery in the overall global crypto market.

Its one-day volume was 303 per cent up to US$ 86.5 million in the last 24 hours. As per the CoinMarketCap rating, the token is placed at the 94th spot. It has a current market cap of U$ 548 million with a circulating supply of around 46 million CELO tokens. It has capped a maximum supply of one billion coins.

Celo coin’s price predictions

The token began trading at US$2.50 apiece in May 2020. After a year of trading, Celo achieved a lifetime high of US$ 7.24 apiece in mid-May this year.

The token may go up from here as it gains more adoption among smartphone users along with rising demand for its stablecoin (CUSD) in payments. Crypto experts reckon its price could hit US$ 5 apiece in 2021.

How to buy Celo crypto tokens?

Celo tokens are listed on trading platforms Coinbase and Bittrex. Investors can buy and exchange the Celo coins with stablecoins and conventional currencies.

Please note: The above constitutes a preliminary view and any interest in stocks and cryptocurrencies should be evaluated further from an investment point of view.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.