Celsius Crypto News: Is CEL on Track for a Full Recovery Because of Celsius’s Payback Schedule?

Cryptocurrency markets sank into bearish oblivion last month after Celsius Network stopped withdrawals. Due to their recent repayment to DeFi Protocol MakerDAO, it has made headlines. The remaining $41.2 million was paid in DAI on July 7th. Celsius was able to release $448 million in collateral after this repayment.

Aave and Compound loan repayments were also lowered from $258 million on July 8th, according to Zapper data.

The price of Celsius (CEL) soared as Celsius’s loan repayments signaled a probable comeback.

How Hot is it?

Celsius‘s CEL token was worth $0.83 when it began repayment on July 7th. The alternative fell as low as $0.68 on the same day. The bulls, on the other hand, compelled a correction, which sparked an uptrend. At the time of this writing, CEL was trading at $0.9110, an increase of more than 10% in the last three days.

Its market capitalization rose from $197.42 million to $216.46 million in just three days, a 9.1% increase.

CoinMarketCap statistics also showed a considerable increase in trading over this time period. Over the course of a 24-hour period, the same had increased by 92.88 percent.

Furthermore, the Relative Strength Index (RSI) remained above the 50-point mark on the 24-hour chart at 53.12. The Money Flow Index, which measures the flow of money into and out of a company, rose to 58 in the wake of CEL’s rapid accumulation.

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On-the-Spot Results

On-chain examination of CEL has showed steady buildup, according to Santiment, since Celsius began repayment of its financial obligations on July 7th. Outside of well-known exchanges, the quantity of CEL coins has increased by 0.5 percent in the last three days.

This metric’s rise often signals an increase in accumulation. As a result, there was a 39% decrease in the quantity of CEL tokens on exchanges during this time period.

As a result, there was an 80 percent increase in the number of CEL transactions between July 7 and July 9. But it has plunged by nearly 200 percent in the just 24 hours.

The number of addresses using CEL expanded by 138 percent throughout the time period described above. Similarly, the total number of CEL tokens in circulation increased by 80% in the period under review.

Over the last few days, the crypto’s social media performance has been less than stellar. Since the 7th of July, it has lost 29% of its social dominance. Over the same period, its Social Volume saw a 14% drop.