Celer Network aims to push blockchain to mainstream adoption by providing a Layer 2 scaling platform for fast, secure, and low-cost applications. The project offers a range of solutions, including CelerX, a game monetization engine; Layer2.Finance, which enables users to access existing decentralized finance (DeFi) protocols at a fraction of the cost; and cBridge, a multi-layer cross-chain asset bridge providing instant, low-cost value transfers.

CELR is the project’s utility token and is required to participate in the Celer State Guardian Network. Since its launch, the price of CELR has seen significant change, and if you want to know why then you’re in the right place. We’ve compiled everything you need to get a better understanding of CELR price – as well as the factors which influence it.

Celer Network Price History

The project was launched through the Binance Launchpad back in March 2019 and CELR hit the market on 26 March trading at around $0.02. The token’s price began to dip soon after launch and by May CELR had fallen to a price of $0.007. A slight recovery took prices back above $0.02 later that month but they started to decline again in July. After several months of gradual depreciation, CELR ended the year trading at $0.004 – an 85% loss from when it entered the market.

After a fairly stationary January 2020, CELR price rose in the first half of February to a peak of $0.006. Prices soon fell again though and bottomed out at $0.0009 after a 53% crash on a single day in March. This marked the start of a period of growth, and by the end of June, CELR had improved to $0.004. The rally continued in July and August when it became steeper and reached a top of $0.014. Prices then fell throughout September, and by November, CELR had dipped to $0.003. The trend began to reverse at that point, however, and by the end of the year, CELR was worth about half a cent.

In January 2021, prices doubled, before rising to over $0.02 in February. The price growth became even sharper in March, until CELR reached its all-time high of $0.10 on 28 March, representing year-to-date gains of 2,160%. By that point, Celer Network had a market cap of $500 million. Prices retreated sharply through most of April, hitting a low of $0.04. A rebound took CELR up to $0.08 at the start of May but those gains were lost over the following fortnight. Another attempt to rally took prices over $0.08, but this was immediately followed by a single-day crash of 26%, which saw CELR drop back to $0.04.

Analyzing Celer Network Price History

CELR price history can be analyzed with many of the same techniques as stock market analysis. Technical analysis (TA) involves using various indicators while studying price charts in order to make sense of previous price movements. With CELR, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of users buy or sell their coins on exchanges.

Fundamental analysis (FA), on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. Celer Network raised $34 million in its initial coin offering (ICO) and has partners who are well-known in the blockchain industry, such as Chainlink, Maker, Polkadot, and DFINITY. Also, the project has attracted more than 1 million users in the gaming, DeFi, and blockchain interoperability space, which could be a good sign for the project’s fundamentals.

Broader market trends have also played a role in CELR price history. Its surge at the start of 2021 wasn’t unique – the entire crypto market pumped around this time. Bitcoin was in the midst of a major bull run then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.

CELR’s sudden crash in May 2021 was also market-wide, affecting every single major cryptocurrency. Various contributing factors have been suggested, including comments from Elon Musk, a crackdown by Chinese authorities, liquidations, and a healthy market correction.

CELR’s huge single-day drop back in March 2020 came as economies and borders were closing down around the world in response to the COVID-19 pandemic. The effect of this was felt by the whole crypto sector and the entire stock market, which experienced the biggest single-day crash since 1987.

The overall price trend of CELR tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.

Factors Influencing The Price of Celer Network (CELR)

A variety of different things can affect CELR price, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider crypto and global economies.

CELR has a capped max supply of 10 billion, making it a scarce asset, like Bitcoin, and therefore potentially a good store of value in the long term. Once all 10 billion tokens are in circulation, no new CELR will be created, meaning any increase in demand for the token would raise its price.

Demand for the token is driven by the network effects of the project’s Celer Economy model. Liquidity Backing Auctions (LiBAs) enable off-chain service providers to solicit liquidity through crowdlending. Lenders who stake more CELR are more likely to be chosen to provide liquidity, for which they earn interest.

The State Guardian Network (SGN) supports optimal user experience and added security, and in order to participate, guardians must stake their CELR. This entitles them to earn service fees from users and could therefore incentivize more people to buy and stake CELR. Staking CELR also means removing it, at least temporarily, from the markets, which effectively reduces the circulating supply.

The higher the total service fees are, the more incentive there will be to join the SGN. It is thus possible that the value of CELR will increase as the Celer Network expands and the apps built on it achieve greater adoption.

Live Celer Network Value and Market Cap

The live price of CELR varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux. 

Given CELR’s volatility, its live price can change by a large amount in a very short space of time. The market cap of Celer Network is equal to the price of CELR multiplied by the number of CELR in the circulating supply.

Celer Network Price FAQ

How is the price of CELR calculated?

CELR’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying CELR than selling it, the price goes up, and when more are selling than buying, the price goes down.

Why is the price of CELR different on different cryptocurrency exchanges?

CELR’s price is based purely on trading as there is no standard global CELR price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affects the price.

What will CELR be worth in the future?

It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future value of CELR. However, as the Celer Network expands and the number of users of apps built on it grows, it seems likely that CELR price will rise as well.

Conclusion

Since its launch in 2019, the price of CELR has been through significant change, going from lows of less than a tenth of a cent to highs of $0.10. Its journey wasn’t a smooth one, however, as CELR’s volatility has led to surges and crashes along the way.

Many different factors have played a role in determining the price of CELR, including demand for staking, the number of users of Celer Network apps, and trends in the rest of the crypto market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Celer Network and cryptocurrencies!