Celo Price Prediction: 2023, 2025 and 2030. Will it rise again?
As per the Price Prediction, in 2030 the CELO price is expected to go above an average price level of $14.14.
The latest Celo USD Price is:
Celo Price Prediction: What is CELO used for?
CELO is a native token of the Celo network which is used for various activities on the platform. It is a proof-of-stake token on the Celo Network. The supply of CELO tokens is capped at 1 billion, 47% of which are already in circulation.
The following are the three main use cases of the CELO token:
- CELO token is used to pay the transaction fee on the Celo network.
- The token holders can participate in the governance program of the Celo platform.
- CELO holders can use their tokens to participate in the elections to determine the validator of the blockchain.
Celo Price prediction
The current market price of CELO at the time of writing is $0.61 and is down by around 3.25% in 24 hours. Below attached is its one-day graph:
Before predicting whether CELO is expected to go up or down in the coming future, let us first overview its price history for the past few months. Its performance in the past months can help us gain the required context for the future. Let’s discuss:
Above is its graph for 1 year and as we can see that the market price of CELO one year ago was $5. Hence, there is a decline of 87.8% in CELO’s in 1 year. Also, there a numerous ups and downs stating that the hike wasn’t really continuous.
Let’s also look at its three-month graph to put more light on its price movements in recent months:
The above graph depicts that CELO’s price has declined by nearly 26.5% in the past 3 months, keeping in mind its price three months ago was $0.83.
Also, its market price a month ago was $0.72. It means that it has decreased by nearly 15% since then till now.
The all-time high value of CELO is $7.23 which was achieved more than a year ago and after that, the price started to fall (not gradually though) and is currently priced at $0.61. It indicates that CELO is currently 91.56% below its all-time high price, leaving a huge scope for its price recovery in the future.
Celo Price Prediction: Competitor analysis
Let’s have a good look at Celo’s competitors and alternatives that can further help us predict the future price for CELO.
Two notable competitors of the CELO network are Ripple and Stellar. Ripple is a decentralised technology that offers wide use cases related to payments, including Defi, NFTs and micropayments. On the other hand, Stellar is a payment protocol which is based on distributed ledger technology.
|Major audience||Users who are looking for a mobile platform to make payments and use financial tools.||Banks and other institutions looking for a solution to manage their customer operations.||People looking for a network to store and move money.|
|Categories||Blockchain, crypto payment, layer 1 protocols, crypto lending.||Blockchain, crypto payments, layer 1 protocols, payment processing and smart contracts.||Blockchain, crypto payments, layer 1 protocols and smart contracts.|
|Performance in last 1 month||-15%||-15.21||-20%|
|Performance in the last 7 days||+22.9%||+4.5%||+7.6%|
As we can see that CELO has performed much better than its competitors in the last 7 days and 1 month. Since a week, CELO’s price is increasing and has hiked by nearly 23% since then.
Other than that, CELO has a competitive advantage because it is uniquely focused on smartphone users. Data suggests that over 6 billion people in the world use smartphones and the number will continue to increase in the future. Therefore, Celo’s adoption will certainly increase with it.
Can Celo reach $100?
Let’s find out if Celo can hit $100 or not:
CELO is a lot down (current price is $0.59) from its all-time high value of $7.61 and it needs to grow by 12.89x to reach that value again. Considering its growth rate of 12.89x in 17 months (according to its past movements), its one-month growth rate is 0.758x.
To reach a value of $100, CELO needs to grow by 169.49 times. Therefore, it should take roughly 18.6 years to reach hit $100 mark. However, it completely depends on the macroeconomic factors during that time.
Celo price prediction-2023, 2025 and 2030
Although Price predictions are never cent per cent accurate, proper research and analysis can predict a lot about the movement in prices. Here, let us try to predict the price for Celo:
Celo Price Prediction 2023
As per the Price Prediction, in 2023 the CELO price is expected to go above an average price level of $1.0 and the expected minimum price value of CELO by the end of the current year should be $0.97. It can reach a maximum price level of $1.15.
Celo Price Prediction 2025
As per the Price Prediction, in 2025 the CELO price is expected to go above an average price level of $2.21. The expected minimum price value of CELO by the end of the current year should be $2.14. It can reach a maximum price level of $2.63.
Celo Price Prediction 2030
As per the Price Prediction, in 2030 the CELO price is expected to go above an average price level of $14.14. The expected minimum price value of CELO by the end of the current year should be $13.67 and it can reach a maximum price level of $15.64.
Also read: Best cryptos to buy under $10
Celo is a blockchain network which aims to increase cryptocurrency adoption by smartphone users. The USP of the Celo network is that it mainly focuses on smartphone users.
It believes that the number of smartphone users is increasing, but that increase is not proportional to the number of people using cryptocurrencies. Hence, it came up with the idea to use phone numbers as public keys in the hope to introduce billions of smartphone users to the cryptocurrency.
To maintain the security of the network, it uses a proof-of-stake mechanism and also has a complex election process in order to determine the validators of the blockchain.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.