Ethereum (ETH) and Bitcoin (BTC) investors are not very happy right now, but Celo (CELO) investors are having a great day.
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The coin listed (and widely promoted) on Coinbase rose nearly 42% in the past day to $4.30, according to CoinGecko. The ATH of the cryptocurrency was $ 7.32, which it reached on May 18, 2021.
Meanwhile, Bitcoin is down 7% in the last 24 hours and 14% in the last 7 days; Ethereum, on the other hand, fell by 6.6% and 21%. So why is Celo increasing when the cryptocurrency market is in bad shape? A few big moves could explain Celo’s rise.
Yesterday, cryptocurrency-friendly browser Opera added Celo stablecoins and CELO itself to its browser’s cryptocurrency wallet. This isn’t really big news on its own, as Opera’s number of users isn’t around with Google Chrome and Apple’s Safari browser. Following the news of Opera, another good news came yesterday from Anchorage Digital, the institutional cryptocurrency trading platform that added support to Celo Euro. The euro stablecoin was also listed on KuCoin earlier this week.
Also the day before, Andreessen Horowitz’s crypto wing, A16z, chose a Deutsche Telekom subsidiary as the validator for the Celo network.
Thanks to all these positive developments, while the market fell, CELO rose. Celo was trading at $4.30 at the time of writing.