Celer Network Coin: A Smart Investment Decision?

Celer Network (CELR) is a blockchain protocol for interoperability that enables users to access tokens, DeFi, GameFi, and NFTs across multiple chains. It is a layer-2 scaling platform built on the Ethereum blockchain, aiming to provide fast, low-cost, and secure off-chain transactions for decentralized applications (dApps). The Celer Network team is based in California, USA, and includes four founders with PhDs and eight additional team members, most of whom are blockchain developers. The CELR token has been in an uptrend in recent weeks, and its price has been bearish lately, in line with the broader cryptocurrency market. So, is it a good investment?

Celer Network's price history and future predictions

Celer Network (CELR) is a layer-2 scaling platform built on the Ethereum blockchain. It enables fast, low-cost, and secure off-chain transactions for decentralised applications (dApps). CELR, Celer's native token, incentivises network participants and ensures efficient routing of off-chain payments.

Price History

• Celer Network (CELR) was launched in March 2019 with an initial trading price of around $0.02.
• The token's price declined shortly after its launch, falling to $0.007 by May.
• CELR saw a brief surge in February 2020 but quickly declined, hitting a low of $0.0009 in March.
• The token gradually recovered and ended June 2020 at $0.004.
• It rallied in July and August, peaking at $0.014, but fell again in September, reaching a low of $0.003 by November.
• By the end of 2020, CELR was worth around half a cent.
• In January 2021, CELR doubled in price and reached over $0.02 in February.
• The growth continued, and in March 2021, CELR hit an all-time high of $0.10.
• However, prices sharply retreated in April, reaching a low of $0.04.
• The token attempted a rebound in May but faced volatility, ultimately closing 2021 at $0.075.
• In January 2022, CELR briefly attempted to reach $0.10 but fell short, trading below $0.02 in March.
• It broke past the $0.02 resistance in July 2022, reaching $0.027 in August, and consolidated within the $0.01 to $0.02 range for the rest of the year.
• In 2023, CELR opened at $0.0095, reached a high of $0.0282 in April, and experienced a reversal, reaching $0.0137 on June 12.
• At the time of writing (July 2024), CELR is trading at $0.01513, reflecting a 57.49% price gain year-to-date.

Future Predictions

• According to Wallet Investor, CELR is expected to be worth $0.0170 in one year, $0.0248 in five years (2029), and $0.093158 by January 1, 2029.
• CoinCodex predicts that by August 26, 2024, the price of Celer Network will increase by 18.88% and reach $0.016275.
• Cryptopolitan predicts that in 2024, CELR will reach a maximum value of $0.034, with an average price of $0.029 and a minimum valuation of $0.028.
• PricePrediction.Net anticipates that Celer Network (CELR) will reach a maximum price of $0.0252 by 2025 and $13.70 by 2050.
• AMB Crypto predicts that in the short term, by October 2024, CELR will have an average price of $0.024 and a highest possible price of $0.025.
• In the long term, by February 2025, AMB Crypto predicts CELR to have an average price of $0.03 and a highest possible price of $0.032.
• CoinDataFlow predicts that by March 28, 2024, the price of Celer Network will increase by 5.45% to $0.031419, and by April 20, 2024, it will further increase by 9.26% to $0.032552.

Please note that cryptocurrency markets are highly volatile and unpredictable. These predictions should not be considered financial advice, and thorough research is recommended before making any investment decisions.

The technology behind Celer Network

Celer Network is a layer-2 scaling platform that enables the deployment of decentralised applications (dApps) on various blockchains. It is built on layered architecture, which allows for the quick growth of each component. This architecture simplifies system design, development, and maintenance, allowing each individual component to easily evolve and adapt to changes.

Celer Network is a trustless and privacy-preserving interoperable blockchain protocol. It allows users to instantly design, run, and deploy massively scalable dApps. It is a solution for off-chain scaling for transactions and smart contract operations, supporting multiple blockchain environments without requiring any changes to the base protocols.

The core technologies that make up the Celer Network are Side Chain technology and the Generalized State Channel Network (GSCN). Side chains enable Celer Network to facilitate interoperability and enable off-chain operations. The GSCN is a Tendermint-based relayer blockchain that can be compared to the Lightning Network. Just as the Lightning Network enables faster and more cost-effective transactions on the Bitcoin blockchain, the GSCN enables fast off-chain operations for blockchains like Ethereum, allowing dApps to scale.

Celer's cBridge is a decentralised and non-custodial asset bridge that supports token transfers across 40+ blockchains and layer-2 rollups. It is built on top of the Celer Inter-chain Messaging Framework and has processed more than $14 billion in cross-chain asset transfer volume for more than 540,000 unique users.

Celer also has its own blockchain, the State Guardian Network (SGN), which is a Tendermint-based blockchain that serves as a message router between different blockchains. It is a decentralised Proof-of-Stake blockchain that facilitates general message passing and cross-chain fund transfers, providing PoS security, fast finality, and low cost for Celer-enabled dApps. The SGN is a crucial pillar that supports the economic security of the Celer Inter-chain Messaging Framework.

The team behind Celer Network

Celer Network was founded in 2018 by Mo Dong, Junda Liu, Xiaozhou Li, and Qingkai Liang. The four-person founding team all have PhDs from the world's top computer science schools: UIUC, MIT, UC Berkeley, and Princeton.

Mo Dong, who has a Ph.D. in computer science from UIUC, is particularly passionate about optimizing distributed systems and building faster networks. His research projects are used by major Internet content service providers and serve tens of millions of users.

Junda Liu, Xiaozhou Li, and Qingkai Liang also have impressive academic credentials, with PhDs from Princeton, MIT, and UC Berkeley, respectively.

The Celer team is distributed, with their foundation in Singapore and most of the technology and marketing teams based in Shanghai and Silicon Valley. They also have community teams in Korea.

The Celer dev team released a mobile application, CelerX, the first mobile esports platform using blockchain technology. They also released the first mobile SDK for layer-2 scaling.

Celer Network's partnerships

Celer Network has formed several partnerships with various organisations to further its blockchain interoperability protocol. Here is a detailed overview of some of Celer Network's partnerships:

Web3 Foundation

Celer Network and the Web3 Foundation are partnering to develop advanced layer-2 scalability on the Polkadot ecosystem.

Poseidon

Celer Network is helping the decentralised content acceleration network Poseidon improve its efficiency and lower costs by integrating Celer's state channel into Poseidon’s Qwallet.

Cocos-BCX

Celer Network and Cocos-BCX are partnering to jointly scale the blockchain gaming ecosystem. The partnership involves integrating the CelerX Gaming SDK into the Cocos engine and launching it on the Cocos store.

TROY

Celer is dedicating its advanced state channel technology to improve the scaling solution of Troy Network’s layer-2 off-chain trading layer.

Bytom Blockchain

Bytom will cooperate deeply with Celer Network in the future on layered architecture.

NEO

NEO will integrate Celer Network’s layer-2 scaling technology to significantly expand the scalability and usability of its dApps.

MixMarvel

MixMarvel and Celer’s cooperation is expected to promote the large-scale launching of blockchain casual games.

SkyDream Technology

Celer is partnering with SkyDream Technology, a multi-million DAU mobile mini-game studio on platforms like WeChat and Facebook, to migrate million-daily-active-user WeChat and Facebook Games to the Celer Network Platform.

Wyre

The integration between Celer and Wyre will allow CelerX’s users to directly purchase cryptocurrencies and transfer them to their layer-2 wallet addresses.

GXChain

Integrated with Celer’s layer-2, this partnership enables both users and developers on GXChain to achieve a new level of scalability and privacy.

Matic

Celer and Matic are integrating their complementary off-chain scaling solutions to bring smooth blockchain user experiences and reduce costs.

Conflux

Celer and Conflux have formed a strategic partnership to boost the mass adoption of dApps and leverage layer-2 scaling solutions to break through the throughput bottleneck of blockchain.

Trust Wallet and Binance Labs

Celer Network's partnership with Trust Wallet and Binance Labs will empower developers to easily onboard users to various blockchains for dApps and build smooth user experiences.

How to buy Celer Network tokens

Celer Network (CELR) is a blockchain interoperability protocol that enables a one-click user experience accessing tokens, DeFi, GameFi, NFTs, governance, and more across multiple chains. It is built on layered architecture that enables the quick growth of each component.

CELR is an ERC-20 standard token built on the Ethereum blockchain. It has a maximum supply of 10 billion tokens, which are distributed as follows: 25% - PoLC mining reward and Off-chain ecosystem building; 20% - Team (18.3%) and Advisors (1.7%); 17% - Foundation; 5% - Marketing & Ecosystem; 33% - Sale.

Choose a Cryptocurrency Exchange

The first step is to choose a cryptocurrency exchange that lists Celer Network (CELR). Some popular options include Binance, Gate.io, Bithumb, OKEx, Crypto.com Exchange, WazirX, AscendEX (Bitmax), CoinDCX, and MXC.com. You can also use a decentralised exchange (DEX) such as Uniswap V2.

Create an Account and Verify Your Identity

Once you have chosen your preferred exchange, create an account by providing your email address and creating a password. Some exchanges may also require you to provide your full name, contact information, and proof of ID, such as a driver's license or passport, to comply with Know Your Customer (KYC) regulations.

Deposit Funds into Your Account

After your account is created and verified, you will need to deposit funds into your account. This can be done by linking a payment method such as a bank account, credit or debit card, or another cryptocurrency wallet. The available payment methods will vary depending on the exchange you choose.

Place a Buy Order for Celer Network (CELR)

Once your funds are deposited, you can place a buy order for Celer Network (CELR). You can do this by searching for "CELR" on your chosen exchange and entering the amount you want to purchase. You may also be able to set a price at which you want to buy CELR, or you can choose to buy at the current market price.

Review Your Order and Finalize the Purchase

Before finalizing your purchase, review the details of your order, including the amount of CELR you are purchasing and the total cost. Be aware of any fees that may be associated with the transaction. Once you are happy with the details, confirm the purchase.

Store Your Celer Network Tokens Securely

After purchasing your CELR tokens, it is important to store them securely. You can store them in a crypto wallet, such as a hot wallet or cold wallet, depending on your preference and security needs.

It is important to note that cryptocurrency investments, including Celer Network (CELR), are subject to high market risk. Always do your own research and invest only what you can afford to lose.

Frequently asked questions