On a day of general downturn in the cryptocurrency markets, Celo (CELO) rose more than 50% to as high as $4.68. Bitcoin (BTC) is down 7% today, while Ethereum (ETH) is down 6.6%. On a day dominated by the positive atmosphere on the Celo (CELO) side, this rise pleased the investors.
After Celo (CELO) increased by over 50% to reach $4.68, it regressed a bit due to price adjustment and selling demands, but it is still up nearly 43% compared to yesterday. It is currently trading at $4.19.
Yesterday, cryptocurrency-friendly browser Opera added Celo stablecoins and CELO itself to its browser's crypto wallet. Also, the CELO Euro stablecoin began listing on KuCoin earlier this week.
World Giant Deutsche Telekom bought Celo (CELO) in April and announced that they were investing in the future of the decentralized finance (DeFi) economy. T-Systems CEO and Deutsche Telekom board member Adel Al-Saleh also made a statement on the subject and said that investing in CELO is a strategic approach for the future. Deutsche Telekom intends to combine their investment in CELO with the infrastructure operated by T-Systems.
A16z launched the largest crypto fund of $2.2 billion the other day. A16z has chosen a Deutsche Telekom subsidiary as the validator for its celo network.
Celo is a blockchain ecosystem aimed at cryptocurrency adoption among smartphone users. Currently, the world's financial system excludes approximately one-third of adults. Mobile DeFi Platform Celo is an open source platform and provides access to anyone with a phone number. There are currently about 6 billion phone numbers around the world. The difference of Celo from other projects is that it enables anyone with a phone number to receive financial service. In order to join the Celo platform, you need to be a smartphone owner.
Celo (CELO) last hit ATH with $7.32 on May 8, 2021. It fell to $1.65 due to the volatility and regression in the markets. But it continues its upward trend that it has captured for a few days. It is shown as one of the important promising projects. Positive developments regarding CELO in recent days show that new investors have joined CELO.