Celsius Crosses $5.3 Billion in Assets, Grows Total Assets 10x During 2020
Celsius, the industry-leading cryptocurrency rewards-earning platform, announced that it holds over $5.3 billion worth of cryptocurrency assets. In November 2020, Chainalysis was able to validate over $3.3b in total assets held by Celsius, making it the second-largest digital asset manager in the world.
Celsius continues to be one of the fastest-growing crypto platforms. Since the Chainalysis confirmation this past November, Celsius has gained over 125,000 new users totaling over 340,000 active users worldwide.
Recommended AI News: Rivery Becomes Snowflake Premier Technology Partner
As Celsius gears up for another year of growth, other notable milestones for the company at this time include:
- Over 340,000 active users worldwide
- Over $200 million in crypto rewards distributed to the Celsius community
- Over 52% of Celsius members choosing to earn weekly rewards in CEL token
- Over 55,000 BTC held under management
- 45 different tokens and coins supported and earning yield
Recommended AI News: MultiPlan Corporation to Acquire Discovery Health Partners
“The crypto industry as a whole grew substantially in 2020. Celsius is proud to contribute to this growth and to provide many people with yield income on 45 assets they can not find anywhere else,” said Alex Mashinsky, CEO of Celsius. “As we see record numbers of institutions and retail users entering the space, they are looking for a store of value and yield to protect their assets from the debasement of the US Dollar. The record number of new dollars being printed by the FED is making the savviest investors in the world allocate assets to Bitcoin. Our results represent the growing need of savers to diversification and the lack of trust and transparency between financial institutions and the community. We have seen time and time again that customers choose Celsius for yield and loans because they trust us, and our goal is to always act in their best interests and consistently deliver industry-leading transparency.”
Through the Celsius platform, customers can earn weekly compounding rewards at rates up to 15% APY and borrow dollars against their digital assets at rates as low as 1% APR. Celsius created the yield-earning use case for crypto, and attributes its exponential growth to its community-driven mission and consistently distributing up to 80% of its revenues back to its community.
Recommended AI News: Boston Scientific Announces Agreement To Acquire Preventice Solutions