BitEagleđŠ Popular Token Analysis - Cel #7consecutive analyses
What is the origin of Cel, which has soared 3 times in the past two days?
Chasing the rise or shorting? BitEagle analyzes for you!
âăProject Introductionă
Cel is a crypto lending platform that is undergoing bankruptcy reorganization and belongs to the bankruptcy sector
The number of users has exceeded 1.7 million, and it manages more than 30 billion US dollars in assets
Current price: $0.58
Market value: $140 million
âăWhy Celsius went bankruptă
The cause of Celsius' bankruptcy was the Luna explosion. At that time, Celsius was a super whale on Anchor, and Anchor was a lending agreement of Luna. Before Luna's complete explosion, Celsius withdrew $500 million, which caused distrust of Celsius. Users also hurried to withdraw a large amount of funds from Celsius. The platform's capital outflow exceeded $1 billion, and it went bankrupt due to insufficient liquidity.
đăOnline Exchangeă
OKX, Bybit, Sesame
â ăBitEagle Commentsă
The core reason for Cel's recent surge: On May 1, the project destroyed 94% of Cel's total chips (652 million pieces), which stimulated the surge.
Then it fell back by 40%, and it went sideways for a few days. After the project absorbed the chips, it doubled.
Some brothers asked if they could chase the rise or short?
The chips are basically in the hands of the project party. Whether to ship or continue to pull the price is up to the project party. The risk is very high, so it is recommended not to operate casually.
