Celsius (CEL) witnessed a remarkable surge in both sentiment and trading volume today, resulting in an astonishing 143% increase in price. This surge came in the wake of losses in other high-volume cryptocurrencies earlier in the day, capturing the attention of the entire market. The sudden rise in CEL coin sparked a frenzy in the cryptocurrency community, with some speculating that it could be a pump-and-dump scenario.
How Much is Celsius (CEL) Worth?
The significant upward movement of CEL propelled it to the top of the gainers list in the past 24 hours. The 143% increase in CEL during this period aligns with the surge in trading volumes, whale activity, and overall market movements. The 24-hour trading volume of CEL also skyrocketed by 1154%, surpassing $117 million.
CEL’s market capitalization rose to $48 million following this massive surge, but it still remains outside the top 500 cryptocurrencies. As the crypto community’s interest in CEL intensifies, on-chain data indicates that this trend continues to support the rise of high-volume altcoins. At the time of writing, CEL has surpassed $1.30. Over the past 7 days, CEL has experienced a gain of approximately 90%, while in the last 30 days, this rate reached 140%.
In addition to the surge in trading volume, CEL also garnered attention due to significant whale activities. The sentiment created by these whales prompted market makers to closely monitor CEL, anticipating a rise. The extraordinary price growth today has opened up opportunities for investors to turn their focus towards Celsius.
Crypto Market Reactions
Bitcoin saw a 1.48% increase today and continues to trade at $68,500. While Bitcoin’s market capitalization remains at $1.3 billion, its trading volume experienced a 29% drop to $29 billion.
Despite the noticeable rise in monthly inflows, Celsius’s record surge of over 120% still left the community in shock. Initial comments on X (previously known as Twitter) revealed that some users were completely taken aback by the rise.
The extent to which CEL’s price increase will continue in the coming hours is a topic of discussion. It is also worth noting that CEL’s all-time high (ATH) is at $8.
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Disclaimer: The information provided in this article should not be considered investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and should conduct their own research.
