Up more than 30% in the past 24 hours, Celo (CCC:CELO-USD) is trading fast and furious ahead of a scheduled hard fork on Wednesday. Trading volume of nearly $300 million over the past 24 hours was up more than 780% as the cryptocurrency traded jaggedly higher on Monday.
Celo is , without the need for a cryptocurrency wallet. Essentially, .
The Celo blockchain hosts a number of for transactions, including its own Celo Dollar (CCC:CUSD-USD). CELO-USD is a proof-of-stake token used primarily for transaction fees and governance.
Like the Ethereum (CCC:ETH-USD) blockchain, Celo supports smart contracts and decentralized apps (dApps), chief among them , which operates similarly to Paypal (NASDAQ:PYPL
) subsidiary Venmo. Like many post-Ethereum cryptocurrency projects, Celo boasts a and .
The scheduled Donut hardfork increases network transaction efficiency and improves blockchain interoperability, along with some .
Investors will be keen to note that the hardfork comes with support for integrating Ethereum tools and wallets such as MetaMask. Furthermore, this update “will make interoperability much easier with other layer-1 projects” including Cosmos (CCC:ATOM-USD), NEAR (CCC:NEAR-USD) and Solana (CCC:SOL-USD).
Currently trading for $5.86, where does CELO-USD go from here? Let’s look at some Celo (CELO-USD) price predictions.
Celo (CELO-USD) Price Predictions
- Pick A Crypto currently has a very bullish projection that CELO-USD could reach . The site has a long-term Celo (CELO-USD) price prediction of $75 to $200 from 2022 to 2025.
- Gov Capital has a of $7.60 and a five-year forecast of $21.87.
- Wallet Investor has a CELO-USD price prediction of .
- Digital Coin Price has a Celo (CELO-USD) price prediction of $8.48 by the end of 2021. The site sees .
On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.
