• The cryptocurrency market has seen steady gains over the past week, with its total cap rising by 1% in 24 hours, to $1.03 trillion.
• Celo (CELO) is down by 5% today, but still up 28% in a week and 32% in a month.
• Celo has rebranded itself and announced several new partnerships, including a new integration of cUSD into Opera Mini Wallet for over 70 million users in Africa.
The cryptocurrency market has seen a surge of optimism in recent days, as investors responded positively to new US inflation figures and the overall market cap has increased by 1% in the last 24 hours, reaching a total of $1.03 trillion. This surge of positivity has been felt across the board, with many altcoins seeing above-average returns over the last few days.
Celo (CELO) is one of the altcoins that has enjoyed a particularly good run in recent times, despite a 5% drop today, pushing it to $0.698852. Although CELO is down by 93% from its all-time high of $9.82, set back in August 2021, it is still up 28% in a week and 32% in a month. Its relative strength index remains above 70, indicating good momentum, while its 30-day moving average (red) signals space for further gains, insofar as it’s still comfortably below its 200-day (blue).
The recent price movements of Celo can be attributed to its recent rebranding and new partnerships. Celo has rebranded itself to emphasize its green credentials and its help for under-banked individuals around the world. In addition, several new partnerships have been announced, including a new integration of cUSD into Opera Mini Wallet for over 70 million users in Africa. Other new partnerships include GoodDoll, a game-based financial education platform, and Kin, a digital currency created by the Kin Foundation.
These developments have had a positive impact on the price of CELO, and many investors are now speculating that it could be a good crypto to buy today. With the market continuing to show signs of growth, it could be a good time for investors to consider adding CELO to their portfolios.