Celo (CELO) is a global payments infrastructure platform explicitly designed for cryptocurrencies that targets unbanked people through mobile technology. The project’s overarching aim is to create a financial system that is accessible to anyone with access to a mobile phone. Before we dive into the CELO price prediction and find out whether it’s the right time to buy this token, let’s explore its tokenomics.
The Celo mainnet launched on 11th May 2020, and it’s native token $CELO got off an explosive start, with its price going from around $1 to just under $4.5 in less than four months.
CELO performed well for most of 2021 and hit an all-time high of $9.82 in August, at which point the bulls were hoping to see CELO break above $10, but sentiment reversed, and it’s now trading 70% below its all-time high.
CELO is trading at a big discount, so is this the right time to add the token to your portfolio? Before we dive into the price predictions for CELO and find out whether it’s the right time to buy this token, let’s explore its tokenomics.
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Investing in a crypto project without understanding the tokenomics of its native coin is a risky move, but luckily we’ve gathered all the information you need on CELO right here.
What is Celo Coin?
CELO is used for governance, paying transaction fees, staking, and stabilizing the network’s native stablecoins cUSD and cEUR.
The total supply of CELO is limited to 1 billion, and currently, there are 433K in circulation, according to CoinGecko. The tokens are distributed as follows:
- Staking and Validator Rewards: 30%
- Community Grants 19.5%
- Protocol Contributors: 18.5%
- Pre-launch Purchasers: 12.5%
- Initial Reserve: 12%
- Operational Grants: 7.5%
According to the developers, all the CELO tokens will be in circulation by 2050.
Celo Price Prediction 2021: How Was It?
CELO started 2021 in the grips of a bear market, with its price hovering around $1.5, representing a considerable drop from its $9.8 high.
January was an excellent month for CELO as the token started to make up for its dreadful performance in the second half of 2020, and by the end of February, it was trading at around $4.
Moving into the summer of 2021, CELO looked to be on its way to heading for a new all-time high after it moved above $6 in May. However, the CELO bulls were left disappointed when the token started to plunge once again as it dropped below $2 in June.
A move-up followed the June crash, and CELO hit its 2021 high of $7.68 before coming back down again and finishing the year at around $4.
CELO failed to hit a new all-time high in 2021, so when will this token break the $10 mark? Let’s take a look at what the experts are forecasting.
Сelo Future Price Prediction
Celo has set itself the ambitious goal of building a platform that will allow the people who traditional banks have previously left behind to access financial services.
Will Celo succeed? No one knows for sure, and although most analysts expect the token to return profits in the long run, don’t see it hitting a new all-time high anytime soon.
Although experts are an essential source of information when you’re considering investing in crypto, remember always to do your own research as well.
Celo Price Prediction 2022
CELO has struggled in 2022 so far; it started the year trading at approximately $5 and has been steadily dropping since.
By the end of January, CELO was fighting to stabilize above $3, but in February, it dropped down to $2.28.
The February lows were followed by a sudden surge that peaked on April 5th at just under $5. Unfortunately, the rapid increase in CELO’s value was not sustainable, and as of writing (25th April), it’s trading back below $3.
Celo Price Prediction 2025
Despite performing poorly in the last couple of years, analysts expect the price of CELO to start recovering by 2025.
CELO is forecast to start 2025 with an average price of $4, representing more than a 2X from its current price. CELO will continue to make positive progress throughout 2025 as its average price stabilizes just below $5 and its maximum price could move above $6.
Celo Price Prediction 2030
By the end of the decade, analysts expect CELO to hit its stride and set numerous new all-time highs. According to DigitalCoinPrice, the token is expected to start 2030 trading above $12 and hit a high of just over $13. In addition, some analysts have issued extremely optimistic targets for CELO of over $60 by 2030.
Celo Price Prediction Reddit
The Reddit community appears to be optimistic about the future of CELO, with many threads and comments alluding to the potential the project has to access markets previously neglected by the financial system.
It’s worth noting that much of Reddit is aligned with the experts in believing that CELO could be a great investment but it will take time for the price to hit new highs.
Is CELO A Good Investment?
It’s difficult not to admire the ambition of the Celo project; the developers are trying to bring people into the financial system who were previously excluded using a carbon-neutral blockchain. However, CELO has been struggling in the short term, and the experts expect its price to recover slowly, so this token only appears to be a good investment if you’re planning to hold it for the long term.
Where To Buy Celo With Crypto?
With Swapzone, swapping ETH for CELO is extremely easy and ensures that you pay minimal transaction fees by comparing 15+ exchange providers. Follow these simple steps to buy CELO with ETH:
- Select the ETH to CELO swap pair.
- Enter the total amount of ETH you are going to exchange.
- Choose the best ETH to CELO swap offer.
- Click on the Exchange button.
- Enter your wallet address to receive CELO to your wallet.
- Send your ETH deposit to the generated address.
- Wait for your ETH-CELO swap to be done.
- Finally, receive your CELO in your wallet!