Celsius token CEL rises 300% in one week amid a GameStop-like 'short squeeze' event

Coin Telegraph LogoCoin Telegraph1 mo ago

Celsius token CEL rises 300% in one week amid a GameStop-like 'short squeeze' event

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The crypto lending platform's Insolvency risks puts CEL price at risk of a 70% drop.

CEL, a native currency inside the Celsius ecosystem for earning interest income and paying back debts, remains under downside pressure as it trades almost 84% below its peak level of $8 in April 2021.

CEL's price rose from $0.67 on June 19 to $1.59 on June 21, a 180% spike compared to the crypto market's 12.37% rise in the same period.

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Author / Journalist: Cointelegraph By Yashu Gola

Category: Crypto

Topics: Trading Celsius Network Investment CEL Price CEL USD Crypto Lending

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-21, 13:31:11

News Timezone: GMT -5:00

News Source URL:

Language: English

Reading Time: 4 minutes read

Article Length: 554 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 2100

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Year Established: 2013

Headquarters: United States

News Last Updated: 8h ago

Coverage Areas: United States

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