Celsius token price drops below $0.60 for first time since September 2020

www.theblockcrypto.com

Quick Take

  • Celsius (CEL) token was trading at $0.58 this morning.
  • Crypto prices have been mostly down across the board throughout May.

Celsius (CEL) is trading below $0.60 today amid a broader market downturn throughout May.

As of this morning, celsius was trading at $0.58, down from $0.70 just 24 hours before, according to data via Coingecko. Friday’s losses mean that celsius is down just over 30% in the past week from $0.83 on May 20.

This drop leaves celsius at its lowest levels since September 17, 2020, when it last traded below $0.60.

The drop in Celsius’s token price comes after the collapse of the Terra ecosystem. The collapse pushed crypto prices mostly lower through the whole digital asset space. 

Celsius has also been lowering its savings rates throughout the year as bearish sentiment spreads across the crypto and broader financial markets.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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