What is it?

Celcius network is a global Peer-To-Peer network which allows owners of a variety of Cryptocurrency to connect with people that want to borrow Cryptocurrency. By subscribing to the Celcius network will the holders be able to earn interests in (classic) fiat currency or be paid out in the companies own coin, CEL token.

CEL token makes use of the Ethereum Blockchain and is an ERC20-token.

The Celcius network has been developed in order to bring about financial services to the Crypto market. It is part of the ongoing DeFi Revolution.

To be more specific, the Celsius Network (and CEL token) is created with the goal of helping the cryptocurrency community reap the benefits of the futures market and margin lending with lower costs when compared to traditional financial institutions. The Celcius Network enables users to to borrow cash against a cryptocurrency collateral as well as to earn regular interest on their deposits. Effectively trying to imitate a “Wall Street” in the crypto community.

Opinion and analysis:

Celsius Network and CEL token make part of the DeFi-revolution (i.e. bringing financial services to the blockchain).

Celsius Network opens up possibilities for further adoption of Cryptocurrencies by the global community. The possibility of lending and earning is an attractive prospect that will attract many investors and opportunists to become involved with Cryptocurrency.

Luckily, unlike Wall Street, the Celsius Network has been developed to function and offer
opportunity to both big and small investors. Anyone can easily subscribe and start earning.

*********Edit on 4/10/2022********

Like Wall-street will there be a lot of speculation going on. Attempts of leveraging the market.
While I used to support this project, things change over time. I lost a bit of sight on this “DeFi”-project as it underwent changes in goal and management. While Celsius itself was based on a good idea did greed overtake. Over-leverage was a result. 2021 saw them making some decent profit. 2022 saw them in months of insolvency as the markets corrected from the bull-run of 2021. In July 2022 went the project bankrupt. A complete timeline of events can be found here: Celsius bankruptcy timeline. In the meantime has its CEO stepped down.

The coin itself can still be traded. Though with recent events it is wise that I withdraw my statement and correct the matter. Trust in the project is gone. This shows that even most “promising” projects can turn to shit when management takes a bad turn.

For more information check out the following websites:

Official website: https://celsius.network/
Marketcap: https://coinmarketcap.com/currencies/celsius/

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