Top cryptocurrency exchange OKEx has listed Celsius Network’s CEL token to users this month, making it the most significant exchange to support the rapidly expanding borrowing and lending protocol.
The listing also arrives just as Celsius Network has achieved a milestone of half a million users and $10 billion in crypto assets under control. Here’s how the recent listing on OKEx will help the booming ecosystem grow and also benefit users of the leading trading platform.
CEL Trading, Deposits, And Withdrawals Go Live On OKEx
This week, world-renowned crypto trading platform OKEx added CEL to its already massive roster of crypto assets. CEL is the native token to Celsius Network, a popular borrowing and lending platform led by Alex Mashinsky. OKEx is the first crypto exchange to list the CEL token since June 2019; however, demand for CEL has been strong all along.
The project launched one year earlier, in June 2018, and since then has become the fastest-growing crypto rewards-earning platform in the market. Celsius Network lets customers earn a yield on idle crypto assets or access ultra-fast crypto-backed loans.
The Formula For Celsius Network’s Runaway Success
These days, the typical savings account barely pays 0.04% in interest, while Celsius offers highly competitive rates up to 18.5%. Rates are 25% better than industry standards, while crypto back loans offered typically require 25% less payable interest than the norm.
If the benefits weren’t already immediately apparent, the total yield paid out to customers has reached over $250 million since inception. Celsius also has more than $10 billion in crypto assets under control, demonstrating the enormous demand for such unprecedented lending and borrowing benefits.
CEL token makes things even more interesting, with holders receiving a weekly reward of 4.86% APY.
OKEx To Expand CEL Reach With Massive Global Userbase
Celsius CEO Alex Mashinsky says the listing is “exciting” for the Celsius community. “OKEx is leading the world in crypto exchange, and this partnership means millions of more customers worldwide can now access CEL and all of its financial advantages. Celsius is committed to catalyzing economic and financial independence for everyone, and partnering with trading programs like OKEx are helping to make that possible,” Mashinsky added.
CEL is now exposed to OKEx’s growing user base that’s been surging since the crypto bull market began. With daily trading volume reaching more than $1.2 billion, CEL will reach more users than ever before.
“We are pleased to help foster the growth of the crypto borrowing and lending ecosystem by adding Celsius’s CEL token to the OKEx exchange,” OKEx CEO Jay Hao commented. “We share the same belief that cryptocurrencies can provide financial freedom to all people around the world and believe that as the industry grows, there is room for both centralized and decentralized solutions. As one of the fastest-growing platforms in the space, Celsius also mirrors OKEx’s deep commitment to continued innovation. We look forward to growing with them,” Hao continued.
To begin trading CEL on OKEx, visit the world-leading spot and derivatives crypto platform today.
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