Celsius Network‘s CEL Token Surges Over 300% After Launching $2.5 Billion Repayment Plan : Celsius Network’s native token (CEL) saw a massive surge of over 300% after the bankrupt crypto lender initiated a $2.5 billion repayment plan aimed at compensating creditors, according to Cointelegraph. The CEL token peaked at $0.65 on September 23, a month after the repayment plan was launched, and is currently trading around $0.58.
This repayment initiative directly affects over 250,000 creditors who suffered losses after Celsius collapsed, marking a significant move in the company’s restructuring efforts.
CEL Token Rallies Following Repayment Plan
The defunct crypto lender Celsius Network began its $2.5 billion repayment plan in August 2024, sparking a remarkable 300% price rally in its CEL token. After reaching a peak of $0.65, the token now trades at $0.58, representing a renewed interest in the asset despite the company’s financial troubles.
The repayment plan is designed to address claims from more than 250,000 creditors, many of whom were severely impacted by Celsius’s downfall in 2022. The rise in CEL’s price reflects optimism around the repayment plan and its potential positive impact on creditors.
A Ray of Hope for Celsius Creditors
For the more than 250,000 creditors involved, the launch of this repayment plan offers hope for recovering a portion of their lost assets. The $2.5 billion initiative is a key step in Celsius Network’s ongoing bankruptcy proceedings and restructuring efforts.
The rise in CEL token’s value, spurred by this repayment effort, indicates growing market confidence in the eventual success of the repayment scheme, despite the company’s prior challenges.
CEL Token’s Rollercoaster Price Action
The CEL token has experienced volatile price action since Celsius Network filed for bankruptcy in 2022. The recent 300% surge highlights renewed trader interest and speculation about the future of Celsius and its token as the repayment plan progresses. However, some market participants remain cautious about the token’s sustainability in the long term, given the uncertainty surrounding Celsius’s future.
Despite these concerns, the repayment plan has injected a degree of optimism into the market, fueling the current rally in CEL’s price.
Conclusion: CEL Token Rallies Amid Celsius Repayment Plan
Celsius Network’s CEL token has soared over 300% following the launch of its $2.5 billion repayment plan, with creditors anticipating potential compensation from the defunct crypto lender. As the repayment process unfolds, the CEL token remains a focal point for investors tracking the company’s restructuring efforts and its potential impact on the broader market.
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To learn more about Celsius Network’s restructuring and the latest developments in crypto bankruptcy cases, explore our article on the latest news, where we provide detailed insights into the ongoing efforts to compensate creditors in the crypto space.