Celsius (CEL) witnessed a remarkable surge in both sentiment and trading volume today, resulting in an astounding 143% increase in price. This sudden rise in CEL coin came after losses in other high-volume cryptocurrencies earlier in the day, capturing the attention of the entire market. The surge in CEL sparked a frenzy within the cryptocurrency space, with some speculating that it was a pump-and-dump scenario.
The sharp upward movement of CEL propelled it to the top of the gainers list in the past 24 hours. Its 143% increase during this period mirrored the surge in trading volumes, whale activity, and overall market movements. The 24-hour trading volume of CEL also skyrocketed by 1154%, surpassing a staggering $117 million.
Following this massive surge, CEL’s market capitalization rose to $48 million. However, the cryptocurrency still remains outside the top 500. The growing interest in CEL within the crypto community is further supported by on-chain data, indicating a rise in high-volume altcoins. At the time of writing, CEL has surpassed $1.30, with a 7-day gain of approximately 90% and a 30-day gain of 140%.
In addition to the increase in trading volume, CEL also caught attention with significant whale activities. The sentiment created by these whales prompted market makers to closely monitor CEL, anticipating a rise in its value. The remarkable price growth today has opened up opportunities for investors to consider Celsius as a potential investment.
In terms of the broader crypto market, Bitcoin experienced a modest 1.48% increase today, maintaining a trading price of $68,500. While Bitcoin’s market capitalization remains at $1.3 billion, its trading volume saw a 29% drop to $29 billion.
Despite a noticeable rise in monthly inflows, Celsius’s record surge of over 120% still came as a shock to the community. Initial reactions on social media platforms like Twitter revealed that many users were completely astounded by the sudden rise.
The future trajectory of CEL’s price increase and the extent to which it will continue are currently being discussed. It is 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 as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.
