Celer Network Overview
What is Celer Network?
Celer Network was founded by four co-founders – Dr Qingkai Liang from MIT, Dr. Xiaozhou Li from Princeton University, Dr. Junda from UC Berkeley, and Dr. Mo Dong from UIUC – in 2018. It is the most advanced off-chain layer-2 scaling platform. The unique designation of Celet Network can be deployed to commit fast, low-cost, interoperable, and secure transactions for purchases and smart contracts. The project’s core theme is getting mass adoption for blockchain, meanwhile providing cost-efficient applications on Ethereum, Polkadot, etc., by incorporating the State channel and Layer-2 roll-up.
How does it work?
As mentioned, Celer Network aims to deploy blockchain such as Ethereum or Polkadot as its Layer 1. This notion aims to increase developers’ experiences as they don’t have to master a new technology stack.
The Celer Network’s Cstack architecture comprises three components: cOS, cRoute, and cChannel.
- cOS: A development framework and runtime for applications utilising State Channel. It provides standard design principles and oversees off-chain state operations, storage, tracking, and dispute resolution.
- cRoute: A decentralised system for generalised conditional value routing across a network comprising multiple chains and layers. It is designed to be fully decentralised, ensuring high resilience against failures.
- cChannel: The foundational layer that interacts with various blockchains. It offers the upper layer a unified abstraction of current states and time-bounded finality. Leveraging state channel and sidechain techniques, it optimises liquidity and facilitates swift state transitions.
Celer cBridge
cBridge v1 has been released on Celer’s mainnet, enabling users to transfer tokens across multiple blockchains, such as Ethereum, Arbitrum, Polygon, and Binance Smart Chain.
However, bridge solutions frequently utilise Ethereum as the primary intermediary. To illustrate, let’s consider that you are trying to move USDC from Polygon to Arbitrum. First, you must switch from Polygon to Ethereum, then from Ethereum to your target source.
Still, when working on Multichain, cBridge offers streamlining asset movement, which promotes the user experience (UX) and saves time.
A user on the Arbitrum roll-up, built on Ethereum, can send funds to a user on Polkadot using various cBridges. These cBridges facilitate the transfer by routing liquidity from Arbitrum to the Optimism Roll-up, then to layer-1 Ethereum. The process involves multiple hops across the Celer State Channel Network, situated on top of layer-1 Ethereum, before finally reaching Polkadot. Remarkably, this entire transaction can occur within milliseconds, taking advantage of the speed of light at a minimal cost.
What is the CERL token?
CERL is the native ERC-20 token of the Celer Network built on the Ethereum blockchain. CERL can be used to enable payments for dealing with blockchain transactions, serving in various incentive systems, and covering transaction fees for off-chain service providers. Additionally, traders can use CERL to stake in the SGN to become the state guardians.
CELR has a maximum supply of 10 billion tokens, with 25% reserved for PoLC mining rewards and ecosystem building, 17% for foundation, 20% for the team, 5% for marketing, and 33% for sale. Seed sales comprise 11.5% of the total supply, and private sale accounts for 15.5%.
Statistically, the private sale that occurred in August 2018 raised $23.255M. The launchpad sales constitute 6% of the total supply, resulting in a comprehensive fundraising of around $4M. In March 2019, CELR tokens were sold on Binance Launchpad. Key liquid trading pairs for CELR include CELR/USDT, CELR/BTC, CELR/BUSD, and CELR/BNB.
Celer Network Technical Analysis
The Celer Network price is currently $0.01575, boasting a 24-hour trading volume of $7,815,504.93, a market cap of $120,289,008, and a circulating supply of 7,622,840,545 CELR. Its all-time high (ATH) was $0.1987 in September 2021, and its all-time low was $0.001014 in March 2020.
After CELR was first introduced, there was a sideways movement for the long term; later, the Celer Network made a medium-term high at $0.0393 on 30 March 2021. Celer Network formed a rounded bottom, leading to a surge in CELR’s price to $0.1987, reaching an all-time high. Subsequently, the CELR token experienced a steep decline, with the average trading price consistently recording lower lows. Unfortunately, Celer Network (CELR) has not managed to recover from this downturn up to the present moment.
Despite minor increases, the CELR price is undergoing a significant decline. Trading volume indicators suggest a need for more interest among traders. Investors and traders remain uncertain about purchase decisions, awaiting positive signals from the Celer Network. The coin has displayed a red candle in the current trading session, and patterns indicate a continuation of red candles in the upcoming trading sessions. A distinct breakout or confirmation of a trend is essential to consider entry. Consequently, the Celer Network’s price must surpass a significant resistance level to mitigate the high risk associated with long-term investments.
Celer Network Price Prediction 2023 – 2030: An Overview
Investing in cryptocurrency is a relatively new choice, and it’s intriguing to explore the potential future of a coin before considering investment. Cryptocurrency falls into the realm of speculative investments and carries a high level of risk. Consequently, long-term predictions for CELR’s price are met with a considerable degree of scepticism.
Examining the historical data of the Celer Network reveals noteworthy returns in the past, but recently, CELR’s price has been experiencing losses. The question arises: will the Celer Network make a comeback soon? Is there potential for a significant increase in the Celer Network’s value? Let’s delve into the predictions for Celer Network’s cryptocurrency prices!
YEAR | MINIMUM PRICE | MAXIMUM PRICE |
2023 | $0.0140 | $0.0340 |
2024 | $0.0298 | $0.0428 |
2025 | $0.0367 | $0.0528 |
2026 | $0.0478 | $0.0688 |
2027 | $0.0621 | $0.0893 |
2028 | $0.0809 | $0.116 |
2029 | $0.0987 | $0.142 |
2030 | $0.121 | $0.174 |
Celer Network Price Forecast 2023
Our projection for CELR coin price in 2023 anticipates a peak of $0.0340, presenting an attractive investment opportunity. Simultaneously, the projected minimum for the year is $0.0140, with an average valuation of $0.0240.
Celer Network Price Forecast 2024
In 2024, our Celer Network price forecast suggests a potential maximum value of $0.0428 and a minimum of $0.0298. The average trading price is estimated at $0.0363 for CELR tokens, offering a potential increase of over 50%. Technological advancements in blockchain may contribute significantly to this rise in token value.
Celer Network Price Forecast 2025
According to our CELR crypto price forecast, the coin is expected to experience a 40% increase throughout 2025. Trading is projected to range from a low of $0.0367 to a high of $0.0528, with an average price of $0.0447.
Celer Network Price Forecast 2026
Based on our CELR predictions, we anticipate a growth of over 50% in 2026, with minimum and maximum prices expected to be $0.0478 and $0.0688, respectively. The average price for CELR coins may hover around $0.0583, with a potential year-end closing price of $0.0677, making it a favourable investment.
Celer Network Price Forecast 2027
Our CELR price forecast for 2027 suggests a promising future, with prices ranging between $0.0621 and $0.0893. The average price is anticipated to be $0.0757, reflecting an increased market cap.
Celer Network Price Forecast 2028
According to our technical analysis and Celer Network price prediction, the cryptocurrency could see an average price of $0.0987 in 2028, showing moderate positive momentum. The potential low for CELR is projected to be $0.0809, with a possible high of $0.116.
Celer Network Price Forecast 2029
Based on our CELR price forecast, the token’s price is estimated to reach a maximum level of $0.142 by 2029, with a minimum of $0.0987. Consistent growth is expected, and the average price is forecasted to jump to $0.120 in the year.
Celer Network Price Forecast 2030
Looking ahead to 2030, the potential high for the coin may reach $0.174, according to our CELR price forecast. Considering the token’s past performance, the minimum and average prices are anticipated to be around $0.121 and $0.148, respectively.
FAQs
Is Celer Network a good investment?
Based on our predictions, yes, CELR is a good investment. It is expected to reach a high of $0.174 by 2030. However, it is essential to remember that the cryptocurrency market has uncertainty and much volatility. So, the price predictions of Celer Network cryptocurrency may need to be revised.
How to buy Celer Network?
Similar to PEPE coin or Cosmos (ATOM) coin, CELR is trading with major cryptocurrency exchanges.. Celer Network Coin Price Prediction is bullish for the long term. Both the maximum price level and the average price level are seeing growth.
Will Celer Network’s price increase in the future?
Celer Network’s price may increase in the future. As per our technical analysis, Celer Network is expected to cross the $0.0688 mark by 2026! With an increase in value, the market cap for Celer Network may also increase.
What will Celer Network be worth by 2030?
Based on our data and CELR price predictions for 2030, the price may reach a high of $0.174 by 2030. The average price is expected to be around $0.148, with a minimum price of $0.121, per our technical analysis.