People use a variety of apps to send money to one another, and these apps have simplified their life. Rather than going somewhere physically, even if it’s just to the bank. Money transfer has become as simple as a few mouse clicks thanks to these apps. These programs are centralized by their very nature. Because of their easy and engaging user interface, they are becoming increasingly popular. What if we took this project and put it on the blockchain? (At this point, Celo joins the conversation.)
Celo makes utilizing your phone to transact simply. It uses the same principle of money transfer to bring the benefits of blockchain to everyday people. Increased security, secure transfer, and transactions are all possible as a result of this. It hosts smart contracts and decentralized applications (dApps), which allow users to interact with the decentralized environment. Unlike most wallet addresses, which contain an average of 42 letters that are nearly impossible to remember, Celo uses your phone number as a wallet address, allowing you to use the network without having to look for addresses while on the go.
Celo, the ecosystem’s native token, is used to pay for network transactions, gas fees, and governance votes. CUSDT, CELO’s stablecoin, has a direct effect on its price. The price of the coin swings enough that the stablecoin stays at $1.
Price Movement
At the time of writing this article, CELO has a value of $5.51 (11.13% increase today) with a trading volume of $96,616,448 with an increase of about 98% over the past 24 hours. The price has shown a strong move today. It highest value today is around $5.51 and the lowest value it attained is around $4.85.
CELO is listed on coinmarketcap in 68th place. It has a negligible market dominance of about 0.09%. It had created its all-time high around the price of $10.597 in August 2021. CELO later dropped to the price of $3.786 in September from where it showed reversal. It has a circulating supply of about 387M. CELO has a total supply of about 1B.
Price Prediction – CELO
The coin also seems to have a good future. Walletinvestor expects a value of $7.424 by the end of the year and positive growth throughout the next five years. In 2025, it is expected to be around $17.100. A lot of traders had been bullish regarding the price of Celo and expected that it would reach higher highs before the end of the year. They think that it would surpass the predictions soon without waiting for a five-year time.
