Celsius Breaks New Business – High in BTC Assets

Crypto revenue generating platform Celsius currently has more than 100 bitcoins, according to a company press release released today. BTC accounts for around 25% of the platform's total community resources. Celsius: Entries and exits Despite a rough month for bitcoin in May, the company also reported that the influx of BTC users doubled the number of users who transferred BTC, reaching approximately 750,000 users worldwide. The milestone of the 100K BTC holding company brings a new company to the top. APY rewards for Celsius users typically range from 3.51% to 6.2% for US users, depending on the amount of BTC in their account. International customers are currently offered 4.4% APY for BTC on their Celsius account. In today's release, the company noted that around 2,500 BTC were paid out to customers in crypto rewards. The flip side of Celsius' business is borrowing; The company offers no resource fees, credit checks, easy refinancing options, and aggressive borrower rates in both USD and various stablecoins. The popularity of crypto loans has increased recently and can potentially improve overall liquidity and price performance for many assets, but it also comes with inherent risks. Related literature | Celsius Network's CEL Token Now Listed on OKEx Celsius competition continues to emerge in a competitive DeFi crypto lending landscape battling major competitors like Nexo and BlockFi. Aggressive tariffs continue to be a major bottleneck for consumers. BlockFi currently offers 0.5% to 5% APY at BTC interest, and Nexo currently offers between 6% and 8% APY at BTC interest. Rates are often variable and fluctuate and will also depend on whether the consumer is using them via BTC or the platform's own currency. However, local coin rewards are generally not available to US consumers. Celsius' original token CEL is at an all-time high of late. | Source: CEL-USD Wha on TradingView.com

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