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Celo
#285 CELO

Celo

-1.59%

$0.32870000

$187,572,285

Total Market Cap

1,000,000,000 CELO

Circulating Supply

$23,658,769

24h Volume

$187,572,285

Total Market Cap

1,000,000,000 CELO

Circulating Supply

$23,658,769

24h Volume

Technical analysis

Latest Signals

# Signal Exchange Type Age
Cryptocurrency Converter
Celo
CELO
Celo
USD
USD
US Dollar

Celo can be found on the following exchanges

Logo Exchange Price Pair Spread 24h Volume
Binance logo Binance $0.3301 CELOUSDT $0.00 $3,969,995
Binance.us logo Binance.us $0.3191 CELOUSDT $0.03 $157
BingX logo BingX $0.3304 CELO/USDT $0.00 $64,431
Bitfinex logo Bitfinex $0.34 CELO/USD $0.04 $7
BitMart logo BitMart $0.3303 CELO/USDT $0.00 $124,517
Bybit logo Bybit $0.3306 CELO/USDT $0.00 $584,247
HitBTC logo HitBTC $0.34656 CELO/USDC $0.00 $0
HTX logo HTX $0.3298 CELO/USDT $0.00 $4,960,550
Kraken logo Kraken $0.329 CELO/USD $0.00 $32,518
KuCoin logo KuCoin $0.3303 CELO/USDT $0.00 $726,329
OKX logo OKX $0.3229 CELO/USD $0.00 $343

Understanding Celo (CELO): The Mobile-First Blockchain Platform

Celo (CELO) is a blockchain platform designed to make financial tools accessible to anyone with a mobile phone. As an open-source project built on Ethereum technology, Celo stands out with its mobile-first approach and focus on creating an inclusive financial system that addresses real-world problems. You can easily trade CELO on your preferred exchange using Cryptohopper's automated trading bot.

What is Celo (CELO)?

Celo (CELO) is both the name of the blockchain platform and its native cryptocurrency token. Launched in 2020, Celo was created to bring the benefits of blockchain technology and decentralized finance (DeFi) to smartphone users worldwide, particularly in regions with limited banking infrastructure. The Celo platform enables fast, secure, and stable value transfers using just a mobile number as an address, eliminating the complexity typically associated with cryptocurrency transactions.

The CELO token serves as the governance and utility token of the Celo ecosystem. As a proof of stake cryptocurrency, CELO functions as the backbone of the network's security and ecosystem operations.

How Does Celo (CELO) Work?

The Celo platform operates through several key components that work together to provide its unique functionality:

Mobile-First Architecture

Celo's blockchain is designed specifically for mobile devices, with lightweight clients that can operate efficiently on smartphones. The platform uses a phone number mapping system that links mobile numbers to public keys, making it possible to send cryptocurrency to anyone in your contact list without needing to remember complex addresses.

Proof of Stake Consensus

Celo uses a variant of the Byzantine Fault Tolerance (BFT) proof-of-stake consensus mechanism. This approach allows for fast transaction finality while maintaining security and using significantly less energy than proof-of-work systems like Bitcoin.

Stable Value Currencies

Alongside the CELO token, the platform supports various stable cryptocurrencies (like cUSD, cEUR, and cREAL) that track the value of traditional currencies. These stablecoins use an algorithmic stabilization mechanism backed by a diversified crypto reserve to maintain their pegs.

Staking and Validation on Celo (CELO)

Celo (CELO) operates on a proof-of-stake mechanism, offering staking opportunities rather than mining. Here's how the staking system works:

Validator Staking

CELO holders can become validators by staking a minimum amount of tokens and running validator nodes. Validators are responsible for processing transactions and producing new blocks. They earn rewards in the form of newly minted CELO tokens and transaction fees.

Delegated Staking

Users who don't want to run validator nodes can still participate in network security and earn rewards by delegating their CELO tokens to existing validators. This process, known as delegated staking, allows anyone holding CELO to earn passive income proportional to their staked amount.

Unlike proof-of-work cryptocurrencies, Celo does not support mining. The energy-efficient proof-of-stake model eliminates the need for specialized mining hardware and substantial electricity consumption, aligning with Celo's mission of sustainability.

What is CELO Used For?

The CELO token serves multiple purposes within the ecosystem:

Governance

CELO holders can participate in on-chain governance by proposing and voting on protocol changes, ensuring the platform evolves democratically.

Staking and Security

By staking CELO tokens, users help secure the network and maintain its integrity while earning rewards for their participation.

Transaction Fees

CELO is used to pay for transaction fees on the network, though these fees are designed to be minimal to ensure accessibility.

Reserve Asset

CELO serves as one of the reserve assets backing Celo's stablecoins, contributing to price stability within the ecosystem.

Initial Distribution of CELO

When launched, Celo (CELO) tokens were distributed through several channels:

  • Community Treasury: Approximately 50% of the initial supply was allocated to community development and ecosystem growth initiatives.
  • Protocol Infrastructure: About 20% was reserved for protocol development, sustainability, and operations.
  • Founding Team: The founding team and early contributors received around 10% of the supply, typically with multi-year vesting periods.
  • Investors: Initial investors received approximately 17% of the token supply.
  • Reserve: A small percentage was allocated to the stability mechanism reserve.

The token release followed a gradual schedule to prevent market disruption and ensure sustainable ecosystem growth. The total supply of CELO is capped at 1 billion tokens, with new tokens being minted as rewards for validators and delegators.

Additional Features of Celo (CELO)
Social Impact Focus

Celo has a strong emphasis on social impact, with initiatives targeting financial inclusion, humanitarian aid, and environmental sustainability. The platform has been used to distribute aid and create microfinance opportunities in developing regions.

EVM Compatibility

Celo is compatible with the Ethereum Virtual Machine (EVM), making it easy for developers familiar with Ethereum to build applications on Celo with minimal adjustments.

Carbon Negative Approach

The platform is committed to environmental sustainability and operates as a carbon-negative blockchain by funding carbon offset projects that exceed the network's carbon footprint.

Growing DeFi Ecosystem

Celo hosts a vibrant decentralized finance ecosystem with applications including lending platforms, decentralized exchanges, yield farming opportunities, and more.

Ready to add Celo (CELO) to your cryptocurrency portfolio? You can effortlessly trade CELO on any supported exchange using Cryptohopper's automated trading bot, which helps you execute your trading strategy 24/7 without constant monitoring.

Latest CELO to USD price calculator

Below are the most popular denominations to convert to USD and back into CELO

CELO US Dollar
0.01CELO 0.00USD
0.1CELO 0.03USD
1CELO 0.33USD
2CELO 0.66USD
3CELO 0.99USD
5CELO 1.64USD
10CELO 3.29USD
25CELO 8.22USD
50CELO 16.44USD
100CELO 32.87USD
250CELO 82.18USD
500CELO 164.35USD
1000CELO 328.70USD
10000CELO 3,287.00USD
50000CELO 16,435.00USD
100000CELO 32,870.00USD
US Dollar CELO
0.01 USD 0.03042288CELO
0.1 USD 0.30422878CELO
1 USD 3.04228780CELO
2 USD 6.08457560CELO
3 USD 9.12686340CELO
5 USD 15.21143900CELO
10 USD 30.42287800CELO
25 USD 76.05719501CELO
50 USD 152.11439002CELO
100 USD 304.22878004CELO
250 USD 760.57195011CELO
500 USD 1,521.14390021CELO
1000 USD 3,042.28780043CELO
10000 USD 30,422.87800426CELO
50000 USD 152,114.39002130CELO
100000 USD 304,228.78004259CELO

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