Why Celsius Investors Don’t Seem Upbeat Despite CEL Rallying 30%

Name	Symbol	Market	Market Cap ($)	Algorithm
MIS	MISSUSD	Crypto	69,579	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

MIS

MISSUSD

Crypto

69,579

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.008544	4.61%	0.193842

Price Change

Price Change %

Current Price

Bid Price

Offer

0.008544

4.61%

0.193842

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.196096	0.183419	0.185593	0.185298	0.123060 - 0.450490

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.196096

0.183419

0.185593

0.185298

0.123060 - 0.450490

Exchange	Last Trade	Size	Trade Price	Currency
Cryptocurrency	07:38:11	0.00000000	0.171185	USD

Exchange

Last Trade

Size

Trade Price

Currency

Cryptocurrency

07:38:11

0.00000000

0.171185

USD

Price x Volume	Volume	Base Symbol	Related Pairs
0.00000000	0.00000000	MISS

Price x Volume

Volume

Base Symbol

Related Pairs

0.00000000

MISS

Why Celsius Investors Don’t Seem Upbeat Despite CEL Rallying 30%

17/09/2022 10:56am

NEWSBTC

Celsius (CEL) has been on the headlines recently in line with hearing updates following its filing of bankruptcy and sale of stablecoins. CEL price spikes 30% as seen in the past 24 hours Price slumps 13.21% despite improvement in social media metrics ETH Merge to impact CEL performance Celsius Network has recently filed for bankruptcy in July and is now in Chapter 11 proceedings. More so, the network has also requested for court authorization on its plans to dispose its stablecoins to pump up liquidity needed for its operations. Once this is approved by Martin Glenn, the U.S. presiding judge, the money pooled from the sale of stablecoins would serve as funding for Celsius operations. The said hearing on the sale of stablecoins is set on October 6 in New York. Related Reading: Celsius Meeting Audio Leaked – Why Staffers Are Reacting With Mistrust Agreement To Appoint An Independent Examiner In September, The U.S. Trustee’s office together with Celsius’ committee consisting of creditors made an agreement to assign an independent examiner with the condition that they will restrict both the funding and time allotted to the examiner. More so, the United States Trustee’s Office will be in charge of choosing the examiner. The judge has approved this on Wednesday. In this connection, Celsius has recently posted a tweet on September 15 harping on their willingness to continue working with the U.S. Trustee and Unsecured Creditors Committee as well as their commitment to improve network efficiency in order to serve their customers better. Related Reading: Will Tron Tie-Up With Liquidity Provider Wintermute Boost TRX Price? CEL Price Down 13.21% Despite Increase In Metrics Triggered by the recent developments and hearing events, CEL price is observed to have spiked by 30% as seen in the past 24 hours. More so, CEL social media metrics has also accelerated. Social media engagement also peaked at 1.2 billion showing a remarkable growth of 32.26%. Despite the boost in social media engagement as well as a price rally, there are still some nagging issues surrounding CEL that make investors apprehensive about the altcoin. According to CoinMarketCap, CEL price has nosedived by 13.21% or trading at $1.70 as of this writing. The total market cap of CEL has slumped by 36.21% as seen in August. More so, market dominance also declined by as much as 41.25%. Uncertainty is creeping on the token, and investors are being extra cautious in making any move due to its high volatility. The Ethereum merge also has a great impact on CEL performance. In fact, Celsius has posted a tweet stating that they are tracking the merge. Investors also look at the short-squeeze movement as a warning because history shows that this movement can negatively impact investor portfolios. Crypto total market cap at $927 trillion on the daily chart | Source: TradingView.com Featured image from LedgerInsights, Chart: TradingView.com

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