Celsius (CEL) witnessed a significant surge in both sentiment and trading volume today, resulting in an astonishing 143% increase in price. This sudden rise came after other high-volume cryptocurrencies experienced losses earlier in the day, capturing the attention of the entire market. The surge in CEL coin sparked a frenzy in the cryptocurrency space, with some speculating that it was a pump-and-dump scheme.
How Much is Celsius (CEL) Worth?
The sharp upward movement of CEL propelled it to the top of the gainers list within the last 24 hours. The 143% increase in CEL during this period correlates with the surge in trading volumes, whale activity, and overall market movements. CEL’s trading volume in the past 24 hours also skyrocketed by 1154%, surpassing $117 million.
CEL’s market capitalization rose to $48 million following this massive surge, yet the cryptocurrency still remains outside the top 500. However, as the crypto community’s interest in CEL intensifies, on-chain data indicates that this situation continues to support the rise of high-volume altcoins. At the time of writing, CEL has risen above $1.30. Over the past 7 days, CEL has seen a gain of around 90%, while in the last 30 days, this rate has reached 140%.
In addition to the increase in trading volume, CEL also garnered attention due to significant whale activities. The sentiment created by these whales led market makers to closely monitor CEL, anticipating a rise. Today’s incredible price growth has opened the doors for investors to consider Celsius as a potential investment.
Crypto Market Reactions
Bitcoin saw a 1.48% increase today, continuing to trade at $68,500. While Bitcoin’s market capitalization remains at $1.3 trillion, its trading volume experienced a 29% drop to $29 billion.
Despite the notable rise in monthly inflows, Celsius’s record surge of over 120% still shocked the community. Initial comments on X (formerly known as Twitter) revealed that some users were completely astonished by the sudden increase.
The extent to which CEL’s price increase will continue in the coming hours is currently a topic of discussion. It is also worth mentioning that CEL’s all-time high (ATH) is at $8.
Disclaimer: The information provided in this article should not be considered as investment advice. Investors should be aware that cryptocurrencies are highly volatile and carry inherent risks, and should conduct their own research.
