​​Celsius (CEL) Celsius is taking market share from the big b | Crypto Great | Bitcoin | DeFi

​​Celsius (CEL)

Celsius is taking market share from the big banks by giving its 330,000-plus users fair interest rates, zero fees, and lightning-fast transactions. Celsius distributes up to 80% of its revenues by paying over 21.49% interest on 35 crypto assets including stablecoins.

Since recommending Celsius in last month’s issue, total assets held on the platform have grown from roughly $3.3 billion to $5.4 billion today. It’s also on boarded nearly 100,000 new users since then.

This explosive growth is helping drive demand for CEL tokens and push token prices higher.That’s because users need to hold CEL tokens in their portfolio to earn the maximum interest.This leads to users choosing to receive interest payments in CEL tokens, creating a virtuous cycle for the project.

This feedback loop has made Celsius the largest market buyer of its own token every week to pay its users interest. In the first week of 2021 alone, Celsius purchased nearly $2.5 million worth of CEL tokens. This constant demand has helped push token prices up 92% since we recommended it last month.

And as we’re still in the early stages of crypto adoption, we’ll likely continue to see waves of new users turn to the Celsius app to earn industry-leading interest rates on their assets. For these reasons, we’re raising its buy-up-to price to $7.50.