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Celsius Network Price Action And Crypto Loans

Celsius Network Price Action and Crypto Loans

Celsius Network Crypto Loans on 2020

Always take in consideration non of this information is financial advice, I’m no expert and this is just my personal opinion on certain project mention on this article, cryptocurrencies are extreme high risk assets and you must do you own research

Celsius Network has been growing a lot, their business model is not complicated as they basically are a bank in a sense that they hold certain amount of assets, pay interest to the holders of their utility token $CEL and give out loans against collateral, this is the meat of the business there are more details into it but if I have to describe what Celsius Network does its basically this.

I made tutorials on how to buy CELSIUS NETWORK on UNISWAP and how to use their platform:

How to buy CELSIUS NETWORK on UNISWAP:
https://www.youtube.com/watch?v=D07Xm34FZC8

How to use the CELSIUS NETWORK Mobile Wallet:
https://www.youtube.com/watch?v=Y5jyoG2HWGA

They have been adding more and more crypto currency to their platform, meaning that now you can earn by holding different crypto currencies on their platform and you are not limited to stable coins, Bitcoin and Ethereum, when it comes to holding crytocurrency on their platform for a long term my choice is $CEL Celsius Network Token, the reason for this:

– I pays high interest depending on the tier you are in (Bronze, Silver, Gold)
– At $2 I still think its cheap, at peak bull market I think this can still do another 5x meaning $10
– I see more potential to make higher gains on $CEL than most other mayor cryptocurrencies due to its low value
– I still value more Bitcoin and Ethereum than other cryptocurrencies so don’t want to risk those

Celsius Network Crypto Loans on 2020

I have bought already three times $CEL token and trade it back to back, made nice gains each time but stop using Ethereum when fees were crazy high so I got a bit away from the project, I have been waiting for a pullback for the prize of $CEL but it has not happen yet, eventually when Bitcoin takes a breath and decides to correct before or after braking all time highs its possible that the value of $CEL might dip in USDT value although if Bitcoin goes crazy high then it just wont go below $2 this is why I have decided to start buying again my initial bag of 1083 $CEL tokens, it might take me sometime and I’m not really doing it for the interest I might make from holding the token just because its not my thing, although if you have a good sum of collateral just sitting around and want to earn some good yearly interest basically by just holding $CEL then that’s a good deal besides the appreciation of the asset.

Celsius Network Crypto Loans on 2020

Ten Dollars ($10.00) is my target with the bag I’m slowly creating back again, I’m just a regular guy who tries to make some money online with crypto, I trade crypto on spot and futures, also hold crypto for the long term although my only two long term holdings are Bitcoin and Ethereum, might start adding some others now that there are more fields in the space like Chainlink and would consider Celsius Network depending on price appreciation, but yes I’m essentially buying because at $10.00 it would be nice, lest say average it cost me $2.5k to buy my bag again, at $10 that’s a 4x gains not bad and this target I plan it to be achieve probably next year 2021, in the meantime I will still hold it on their wallet to get some interest since this is paid every single Monday.

There are many reason why the price of CEL has gone up so much, one of them is that Celsius Network buys their own token from the markets, there is no over the counter, they buy tokens to pay holders interest, here some metrics from their last weekly report.

-Weekly $CEL Tokens Purchased: 435,192
-Weekly USD Value of $CEL Purchased: $828,776.61
-Total $CEL Tokens Purchased: 43,457,095
-Total USD Value of $CEL Purchased: $82,568,480.50
(Based on the real-time value of $CEL)

Celsius Network Crypto Loans on 2020

They can achieve this based on multiple factors, for once their balance sheet currently report $680 million that’s excluding they asset they have come up to manage in the back, Celsius Network is not about cryptocurrency they also hold other type of assets that sum up over $2.2 billion, depending if its cash, stocks or cryptocurrencies this provides them enough power to keep generating money every month and take in consideration that they don’t provide loans without collateral so they are really not going into any type of credit dept, this is the perfect circle of generating a passive income. Nothing can go up for ever, eventually either the price of Bitcoin will force CEL token to dip in USDT price or any other factor in the cryptocurrency space but I’m starting to consider CEL as a third or forth option for my long term hold bag and if I do this probably would hold 25% on their wallet and the rest on an Ethereum wallet.

I hope this article gives you a recap of what has happen since the last time I talk about it, I will keep providing you updates on this project and they currently have a promotion, they giving $25 on any $200 deposit, use my link https://celsiusnetwork.app.link/10474294f5 and the code DNS.

Original Links:

https://celsiusnetwork.medium.com/celsius-weekly-community-update-november-16-2020-93b972eee538

Thanks

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