Celsius bagged the award for the best CeFi lending platform at the 2021 Blockchain Fest. The cryptocurrency is surging upwards mainly due to the success of the platform. 

The Blockchain Fest is one of the biggest crypto events in Europe and Asia. The event brings together key players of the blockchain world – including developers, crypto-enthusiasts, investors and representatives of authorities from all over the world. This year the event took place in Limassol, Cyprus during the beginning of December. The title of the year’s conference was “Cyprus as a global hub for cryptocurrencies”. The conference saw some big names from the industry as speakers and some of the hot topics including NFTs, CeFi, DeFi and the future of the cryptocurrency space were discussed. 

There were around twenty-four awards in the Blockchain Fest – from the best crypto news platform, to DEX, to crypto investors. Celsius won the People’s Choice Award for the Best CeFi Lending Platform. The community rejoiced and many members of the community stepped up on Twitter to support the platform, citing the award was well-deserved.  

Celsius price movement 

Celsius is one of the top performing cryptocurrencies during the current day. The cryptocurrency had been on a downtrend ever since the establishment of its new all-time high in June. The downtrend has been broken by CEL token as it garnered bullish momentum during the recent timeframes. The cryptocurrency has surged upwards by more than 15% during the past twenty-four hours with a similar performance during the weekly timeframe. At the time of writing, CEL token stands at a price level of $4.62. The 24-hours high and low were recorded at $4.65 and $3.99 respectively. Celsius is currently standing at a market rank of #90. 

What is CEL? 

Celsius is an all-in-one banking solution for the cryptocurrency world. It is a blockchain-based FinTech platform that provides financial services ranging from savings to borrowings through cryptocurrency as well as fiat currency. The platform is altering the face of the current global financial ecosystem through the blockchain technology. It has an incentivizing model in place which also prioritizes the users over profits – unlike the current banking system which is known for exploitation. The network returns nearly 80% of its revenue back to users while the rest goes to the development of the network. Celsius’s platform has been growing at a phenomenal pace and great things can be expected from the platform in the coming days.