Why is Celer Network (CELR) crypto rising?

April 12, 2022 08:06 AM PDT | By Versha Jain

Why is Celer Network (CELR) crypto rising? — Image source: © Kanawat | Megapixl.com

What Is Celer Network (CELR)?

Celer Network was founded in 2018. It is a layer-2 scaling solution and blockchain interoperability protocol where users access tokens, DeFi, GameFi, NFTs, governance, etc., across multiple chains with one click. It offers fast, simple, and secure off-chain transactions for smart contracts and payments. It is a part of the Polkadot ecosystem.

According to Celer, its vision is to unleash the full potential of blockchain where DApps become efficient with productive outputs.

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The platform uses Delegated Proof of Stake (DPoS) consensus where participants can stake coins for rewards and transfer responsibility to “delegates” for validating transactions.

Celer’s L2 scaling offers solutions to boost liquidity, product coverage, adaptation, and reliability. Celer is a networked system, not a blockchain, although it runs on blockchains.

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Data Source: coinmarketcap.com

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CELR token:

The token has a market capitalization of US$336 million. Its total supply is 10 billion, and the circulating supply is 6.84 billion.

The token touched a high of US$0.194843 on September 26, 2021, and it has since dropped 74.78%. On March 13, 2020, it jumped 5041.5% from its all-time low of US$0.00095575.

The CELR token is available for purchase on Binance, LBank, Crypto.com Exchange, OKX, Phemex, Bybit, WazirX, CoinTiger, etc.

Currently, it has 15,908 token holders.

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Bottom line:

The Crypto market is volatile; hence, investors should exercise due diligence before investing in digital assets.

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