Yield-rewards platform, Celsius Network disclosed that it has processed more than $10 billion of users-initiated transaction since the first time it commenced operation in June 2018. Back in December 2020, the crypto firm allowed users to reap rewards for entrusting digital assets to it platform and published the results of a similar exercise.
Then, which was the first time it applied a validation method to confirm a transaction, Celsius Network reported over $3.3 billion in processed value of digital assets.
After the first validation exercise, which coincidentally runs over 100 days, Celsius has recorded several commendable milestones. Notably, the total value of assets the firm currently manages is 3X what it was in 2020. Also, the number of users actively using the platform’s services doubled from the initial count of about 240,000 to surpass the present estimation of 486,000 customers.
Celsius Network Owes 2021 Growth to Crypto Bull Run Season
Celsius Network exponential growth can be attributed to the fact that there is a strong renewed interest in blockchain technology and digitized assets. This time, there are more users holding cryptocurrencies, most especially Bitcoin to the effect that analytics firms fear a critical asset would soon become very scarce.
Also contributing to the rising valuation of Celsius is the soaring prices of crypto tokens. Bitcoin has moved from $3,600 to $55,800 even as expert traders continue to confidently eye $100,000.