Finst

Celsius (CEL): Sell-off rally nearly erased

Celsius (CEL): back at the bottom of the top 100 on August 23, 2022: After a price rally of several weeks since the start of the month, CEL's token price has come under heavy pressure in recent trading days.

By Luc Vesters
• 3 min read
Celsius (CEL): Sell-off rally nearly erased

Celsius (CEL): back at the bottom of the top 100

August 23, 2022: After a price rally of several weeks since the start of the month, CEL's token price has come under heavy pressure in recent trading days, sliding 63 percent from the all-time high of $4.63 to $1.72 within eight trading days. In just the last 24 hours of trading, the loan token fell another 10 percent. The massive price surge at the start of the month is more likely due to a classic pump-and-dump. With an enormous debt of $2.85 billion, it's far from certain that the lending platform will ever offer financial products again once the bankruptcy process is over. It is also unclear whether and when investors will get their money back.

Evmos (EVMOS): A 13 percent price rise

24 August 2022: The price of the Evmos cryptocurrency has held up well recently and, contrary to the corrective trend in the crypto market, has risen in value. Evmos describes itself as the Ethereum Virtual Machine (EVM) hub in the Cosmos ecosystem. By using the Cosmos SDK, Evmos is the first IBC-compatible EVM-based blockchain, enabling interoperability and fast transfers with the Ethereum blockchain. The EVMOS price has broken through the $2.00 resistance in the last 24 hours and risen to $2.25 currently. If the bulls manage to reclaim the area around $2.35, the zone around $2.75 will come into traders' focus as a target.

Celsius (CEL): price jump nearly recovered after sell-off

26 August 2022: The Celsius token (CEL) sell-off continued abruptly in recent trading days. In the last 24 hours, CEL corrected another 16% to $1.16. That puts Celsius back on the list of the biggest daily losers. In just the last seven trading days Celsius fell 63% to the downside. The sharp rise from $1.15 to $4.63 in the first half of August has now been wiped out by Friday's rebound. As recently suspected, the temporary rise, sparked by a Wall Street pump, was only temporary and ended in a sell-off back to the original price level around $1.20. A return to the last historical lows near $0.70 could not be ruled out in the coming trading days.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.