markets Liquidity Interest rates

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

Reading now: 111
cointelegraph.com

The price of CEL, the native token of Celsius Network, has almost quadrupled since June 19 in what appears to be a frenzy stirred up by day traders.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.

Notably, the rally started after PlanC, an independent market analyst, announced a $20 million bounty for anyone who could prove that the Celsius Network suffered a coordinated attack at the hands of a third party, which prompted the crypto lending firm to suspend withdrawals last week.The announcement led to a frenzy on Twitter, with many accounts placing the hashtag #CelShortSqueeze in their bio and thus reflecting their intentions to target investors who have betted CEL's price would fall.

Read more on cointelegraph.com
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA