Celsius Network: crypto deposits have reached $1 billion over the past 2 years

Celcius Network has recently reported $1 billion deposits that indicates high demand among crypto community for the ways of getting percentage from crypto investments.

Marginal crypto lendings are becoming more popular. As we all know, the major part of crypto community consists of crypto enthusiasts that prefer HODL strategy to wasting their crypto assets. This is a sufficient ground for creditors that are able to connect crypto holders with those who need loans, while the creditors themselves may get percentages from the deals.

Celsius saw incredible growth attracting over 110 000 creditors since its launch. Celsius CEO Alex Mashinsky claimed that enhancing the global financial opportunities financial is an important stimulus for the introduction of the new lending platform since the financial and economic equity is now more important than ever.

We face the catalyst that requires for fundamental changes in the ways of making money and distribution of wealth around the world. Still it is unclear whether the resource has enough reserves to cover percentages of all users possessing assets within the platform. Furthermore, Celsius is also experiencing competition from lending providers, such as Blockfi that possesses large volume of crypto assets.

Everipedia focuses on DeFi - image

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