Time to cool off for Celsius (CEL)?

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Ibis
Sep 12, 2020

While most of the crypto market continues to tread water, a select few assets have already mustered a complete post-dump recovery - and then some.


No coin has had a better week than Alex Machinsky’s Celsius ($CEL), which is not only up +46.9% in the past 7 days (more than any other cryptocurrency) but has just reached a new all-time high of $0.55 earlier today.

CEL, price, last 30 days (Source: Sanbase)

And while the rally had been welcomed with open arms by most CEL holders:

...there’s been a fair few concerning signals appearing in CEL’s on-chain data over the past 24 hours.


Time to cool off a bit? Probably.


Unsurprisingly, Celsius’ on-chain transaction volume has just surged to a 40-day high 10,330,000 CEL (~$5,500,000 at the time of writing), signaling inflated network activity and high-paced movement of CEL tokens

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Assets from this insight

Celsius  logo

Celsius CEL

$ 0.825489

29.85%in last 7d
2