Price Updates, Recent Developments, Future Events, Community By
Celo (CELO): Price Updates, Recent Developments, Future Events, Community
- With the rise in DeFi projects, decentralization has begun replacing the traditional financial services of today
- To facilitate its global adoption, Celo has launched a $100 million fund featuring Aave, Curve, and Sushi
- Celo has also collaborated with DuniaPay to give residents of West Africa easier and cheaper access to everyday financial services
- Following the announcement, the price of CELO spiked, doubling its value in only a few hours
Although several altcoins have been able to break free of the broader market downtrend and post impressive gains, Celo stole the headlines after almost doubling its price in 24 hours. However, little is known about Celo.
Celo is a mobile-first blockchain ecosystem that focuses on increasing cryptocurrency adoption among smartphone users. The project aims to increase global financial inclusion by making crypto payments accessible to anyone with a smartphone.
Recent Developments
In pursuing its goal of increasing global financial inclusion, Celo announced a consortium including Aave, Curve, PoolTogether, and Sushi, along with other leading DeFi projects to launch DeFi for the People.
In the crypto industry, projects like have made significant attempts to reach the unbanked but this collaboration takes it further. DeFi for the People brings DeFi to the 6 billion smartphone users around the world.
“Couldn’t have launched this initiative at a better time! + on Sushi” was the reply to the announcement from a Celo believer. In addition, DeFi for the People was launched with a $100 million fund to facilitate the adoption of DeFi.
Before setting its sights on everybody who owns a smartphone, Celo had worked in West Africa. On August 5, Celo announced a collaboration with DuniaPay, the Next Chapter of Banking in West Africa. Together, they will be creating a full-service digital banking app for easier access to financial services for residents in West Africa.
Future Events
In August, Celo launched the first stable community currency, cXOF, developed on Celo. Markus Franke from CeloOrg will be teaching a course that will lay the groundwork for better understanding the current research and activity around stablecoins. The event will be held on September 2.
Celo has also announced the launch of Optics on its network. Optics is a new design for cheaper cross-chain communication on the Celo network. It is expected to cut 90% of gas costs compared to a traditional header relay. However, no release date has been announced yet.
Celo (CELO): Price Update
CELO, the native token of the Celo ecosystem, is one of the leading crypto gainers for the week. Over the last 30 days, CELO is up by more than 102%, starting with a value of $2.73 and now being valued at $5.53.
The 30 days price chart of Celo (CELO). Source: TradingView.com
CELO hit its all-time high of $10.66 on August 30. However, just days after jumping by 92%, CELO is undergoing some…
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