Cryptocurrency platform’s token grew by 750% in 2 months

The Celsius Network (CEL) token, based on Ethereum, has entered the top 100 cryptocurrencies by market capitalization and has grown in value by 750%.

As it became known, the CEL cryptocurrency took 77th place in terms of market capitalization, having risen 750% in 2 months — at the time of writing, the CEL token is trading for $ 2.47. Obviously, the value of the cryptocurrency was not affected by the financial problems of Celsius Network. In July, representatives of Celsius announced the company’s bankruptcy by filing a petition in a New York court.

Also, in late June, it became known that the platform’s asset-to-equity ratio was significantly different from similar credit organizations: Celsius had 19 times less assets than it needed to pay out. In addition, Celsius has been «lost» by almost $ 1.2 billion — representatives of the platform reported that its liabilities exceeded its assets.