CEL Overtakes LINK as Most Traded Token Among Top 100 ETH Whales
- CEL has flipped LINK as the most traded token among the top 100 ETH whales.
- The trading activity of CEL in the last 24 hours has surged by 301.47%.
- CEL’s price also soared by 55% in the last day.
Just recently, the native token of the Celsius Network, CEL, has flipped Chainlink’s native token, LINK, as the most traded token among the top 100 ETH whales.
This follows after Celsius announced on Sunday that withdrawals, deposits, and even inter-account transfers would be suspended citing “extreme market conditions”. Shortly after the announcement, the price of CEL plummeted by 70% and many feared that it was the next LUNA.
Bitcoin and other cryptos were also affected by the announcement as their prices tumbled too. Even the largest USD stablecoin by market cap, USDT, lost its peg to the dollar again.
Looking at the 24-hour trading volume of the two tokens, LINK trades at a volume of $965,834,542, a 15.04% drop in activity. Meanwhile, the trading activity of CEL has surged by 301.47%, reaching $121,831,675.
According to the crypto market tracker, CoinMarketCap, the surge in trading activity for CEL must have been buying orders as the price of CEL has risen by more than 55%. As a result, the price of CEL is now $0.5093. The market cap for the token now stands at $122,147,985 – ranking 150 on CoinMarketCap’s list of biggest cryptos by market cap.
However, in contrast to CEL, the price of LINK dropped by 4.75% in the last 24 hours. Currently, the coin trade at $6.01. Ranked number 21, LINK’s total market cap hovers at $2,805,325,307.