Celsius Network Says It Needs More Time To Get Back Into Financial Shape; Bitcoin Rises

Celsius Network, a cryptocurrency lending firm, which announced last week to pause all withdrawals and transfers between accounts due to “extreme market conditions”, has announced in a recent statement that it needs more time to recover its financial position.

“We want our community to know that our objective continues to be stabilizing our liquidity and operations. This process will take time,” the troubled lender said in a blog on Monday, in the latest sign of pressure in the crypto industry. 

Regarding its decision to halt withdrawals, swaps, and transfers between user accounts, Celsius said it is keeping lines of communication open with authorities.

In other news, content creator and personal branding practitioner, Digital Pratik, is bringing forth India’s first-ever non-fungible token (NFT) ticketed IRL event - JorrDaar Event – through his NFT project, JorrParivar. 

Encompassing a wide range of activities, Q&A sessions, in-depth panel discussions about Web3 tech and NFTs, and much more, this first-of-its-kind event will be held on June 24, 2022 at Club 07 in Ahmedabad, Gujarat.

The nation’s first community-driven NFT project, JorrParivar by Digital Pratik, which has 1,254 tokens distributed across 22 IP addresses, and focusses mostly on branding, marketing, and motivational issues, is now hosting a special event for JorrParivar owners.

Crypto Prices

The price of Bitcoin in the cryptocurrency market rose by 5.54 per cent in the last 24 hours, and it was trading at $20,718.61 at 4:45 pm IST. According to Coinmarketcap.com, its dominance in the crypto market is currently at 43.38 per cent, up by 0.07 per cent in the last 24 hours.

In the last 24 hours, Ethereum (ETH) was trading at $1,153.46, up by 9.30 per cent, while Binance Coin (BNB) was up by 3.60 per cent during the same time period, and it was trading at $215.28. Solana (SOL) was up by 11.33 per cent to $35.82, while Cardano (ADA) was up by 6.59 per cent to $0.4996. 

Meme Coins

Dogecoin was trading at $0.06055 at 5:30 pm IST, up by 4.48 per cent on Coinmarketcap.com. Its rival, Shiba Inu, was up by 3.70 per cent, and it was trading at $0.000008258. Samoyedcoin was up by 9.10 per cent, and it was trading at $0.004541, while Dogelon Mars was up by 9.30 per cent, and it was trading at $0.0000002603. 

Overall Scenario

According to Coinmarketcap.com, the global crypto market cap was at $911.68 billion, an increase of 5.13 per cent in the last 24 hours, while the total crypto market volume was $80.16 billion, a decrease of 11.05 per cent.

Tom Coin (TMC) was the biggest gainer, gaining 200.39 per cent. It was trading at $0.000000007219 at 4:45 pm IST, according to Coinmarketcap. In contrast, Squid Game 2.0 (SQUID) witnessed the maximum loss and fell by 93.05 per cent. It was trading at $0.000001028.