As a seasoned crypto investor with a keen eye for market trends, I’m always on the lookout for promising opportunities in the digital asset space. And today, the sudden surge of Celsius (CEL) has piqued my interest. With an impressive 120% upsurge in just 24 hours, CEL is among the top gainers in the market, outpacing even Bitcoin and Ethereum.
In the past 24 hours, there has been a 120% surge in the value of Celsius (CEL) in the cryptocurrency market. This increase can be attributed to heightened optimism and increased trading activity. The overall crypto market is showing signs of improvement after experiencing losses among top coins during inter-day trading. The significant rise in CEL has ignited excitement within crypto communities, causing some to raise concerns about potential price manipulation.
Celsius Marks 120% Uptick
The token’s price has surged upwards by over 120% in the past 24 hours, making it one of the most significant gainers in the market. This impressive rise can be attributed to several factors such as heavy trading volumes in the over-the-counter market, increased whale activity, and the overall market recovery. The daily trading volume for this token has reached an astounding $85.4 million, marking a staggering 872% increase.
The heightened trading activity surpasses the pace set by Bitcoin (BTC) and Ethereum (ETH), which recorded day trading volumes of 5.78% and 9.2% respectively, compared to a 7.52% rise in the larger crypto market.
Major coins continue to be fueled by robust on-chain activity, with the community showing strong support for their associated tokens. Currently, CEL is priced at $1.21, representing a weekly increase of 87%, while its 30-day trading volume has surged by an impressive 692%.
The asset has experienced notable whale involvement and heightened trading volumes. Whales’ positive sentiment towards the asset fueled its expansion, generating bullish momentum. The overall optimistic market atmosphere attracted investors to Celsius today. Currently, Bitcoin is priced at $68,913, marking a 2.3% increase on the day, with other assets exhibiting comparable gains.
Crypto Market Reacts
As a crypto investor, I was taken aback when I saw Celsius recording over 120% growth. However, upon closer inspection of the monthly inflows, it became clear that this asset had been on an upward trajectory. The reactions on X, formerly known as Twitter, have been mixed. Some users are in a state of excitement over the highs, while others express caution and skepticism.
Some users of digital assets express concern about a potential significant drop in value if market sentiment shifts unfavorably. A key cause of this apprehension is the asset’s previous surge beyond the earnings of popular meme coins.
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2024-05-24 23:41