Celo Goes Vertical with Crypto Exchange Binance Listing Against BTC & USDT


The leading spot cryptocurrency exchange Binance has listed a new token Celo (CELO).

The trading for two pairs CELO/BTC and CELO/USDT will be opened on Jan. 5, at 8:30 AM (UTC).

In response to the news, the digital asset went vertical.

With more than 185% gains following the listing, Celo went on to see $4.18. As of writing, CELO was trading at $2.78 CELO -2.63% Celo / USD CELOUSD $ 4.46
-$0.12-2.63%
Volume 35.4 m Change -$0.12 Open $4.46 Circulating 204.76 m Market Cap 913.35 m
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.

The cryptocurrency has a market cap of $317 million and traded $68.97 million in ‘real’ volume in the last 24 hours.

The open source platform supports the development of decentralized applications and smart contracts and further aims to address the barrier to digital assets adoption by using email addresses and phone numbers as public keys.

The project has released Celo Wallet, a social-payments system centered around mobile phones.

Besides its native governance token CELO that is used to pay for on-chain transactions, it has also launched the stablecoin Celo Dollars (cUSD).

Celo is now planning to support multiple stable assets starting with cEUR, an addition which it says “is the first step towards an ecosystem on CeloOrg that hosts a family of stabilized value assets.”

“We're building a more inclusive financial system, where value can be transferred in faster, more secure and at a lower cost manner, and requires fewer intermediaries than traditional bank wires,” said the team recently on the occasion of the inaugural review of the World Economic Forum’s (WEF) crypto working group that listed Celo besides Bitcoin (BTC), Ethereum (ETH), XRP, Tezos (XTZ), Zcash (ZEC), Filecoin (FIL), and Arweave (AR).

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