Celsius (CEL) is a cryptocurrency platform which provides services to users such as Borrow, Earn, Buy and Swap. Users are able to borrow against their current crypto holdings and earn interest on their deposits of various cryptocurrencies at a rate of up to 30% weekly.
Users are able to stake on Celsius Network, and the network uses capital on its platform to fund investments and cover loans it makes to other users. The recent liquidity crisis faced by the network has diminished the potential returns for users.
Recently on 13 June, Celsius Network informed that they will be pausing all withdrawals, swaps, and transfers between accounts due to extreme market conditions, and they have taken such a decision so that it would be “in a better position to honour, over time, its withdrawal obligations.”…. read more
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