Celo (CELO) has challenged the stagnant cryptocurrency market with its latest price increase.

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The cryptocurrency market has been extremely quiet for the past few days. The top 10 cryptocurrencies have generally been stable or slightly bearish over the past 24 hours. Celo, on the other hand, rose 21.6% to challenge the stagnant cryptocurrency market. Rising to $3.51, Celo has risen 35.3% in the past week.

Celo is a mobile-first crypto project that aims to create a decentralized peer-to-peer payment platform. Users can make crypto payments using their phone number.

The blockchain project was conceived as a decentralized computer managed by a worldwide network of independent data centers. It emerged with the aim of being a decentralized alternative to the cloud computing market, which is now dominated by big technology companies.