Celo Prize explodes after the announcement of the return to the Ethereum network and upcoming upgrade: Course forecast

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Der Preis von Celo (CELO) ist am Montag stark angestiegen, nachdem das Entwicklerteam wichtige Ankündigungen gemacht hat. Innerhalb der letzten 24 Stunden stieg der Token um fast 13 % und erreichte ein Hoch von 0,6140 US-Dollar. Celo ist ein EVM-kompatibles Blockchain-Netzwerk mit Fokus auf mobile Plattformen. Mit diesem Ansatz zielt es auf den großen Markt ab, da Milliarden von Menschen heute Smartphones besitzen. Das Netzwerk hat eine durchschnittliche Blockzeit von etwa 5 Sekunden und ist kohlenstoffnegativ. Bislang wurden bereits über 262 Millionen Transaktionen zu einem durchschnittlichen Gaspreis von 0,0005 US-Dollar abgewickelt. Der Preisanstieg von Celo resultierte aus der Ankündigung des …
The Celo (Celo) price rose sharply on Monday after the development team made important announcements. Within the last 24 hours, the token rose by almost 13 % and reached a high of $ 0.6140. Celo is an EVM-compatible blockchain network with a focus on mobile platforms. With this approach, it is aimed at the large market, since billions of people today have smartphones. The network has an average block time of around 5 seconds and is carbon negative. So far, over 262 million transactions have already been handled at an average gas price of $ 0,0005. Celo's price increase resulted from the announcement of ... (Symbolbild/KNAT)

The price of Celo (Celo) rose sharply on Monday after the development team made important announcements. Within the last 24 hours the token rose by almost 13 % and reached a high of $ 0.6140.

Celo is an EVM-compatible blockchain network with a focus on mobile platforms. With this approach, it is aimed at the large market, since billions of people today have smartphones. The network has an average block time of around 5 seconds and is carbon negative. So far, over 262 million transactions have already been handled at an average gas price of $ 0.0005.

The price increase of Celo resulted from the announcement of the development team to return to the Ethereum network. The Optimism Stack is used for this, a leading Layer-2 network. In a statement by Clabs, the developers of Celo, the advantage of the connection with Ethereum is emphasized by interacting the platform without trust with Ethereum and using its economic security.

An essential aspect of this decision is the use of Optimistic Rollup. This technology enables the processing and confirmation of transactions outside the blockchain, even before you get to the Ethereum network. With this solution, which is made possible by Layer-2 networks, a large number of transactions can be processed in a short time.

Another reason for the price increase from Celo was the announcement of a new upgrade. The Allo protocol will be implemented on Celo in August. Allo is a tool for capital allocation that simplifies financing within the community.

In June, Celo reached a low of $ 0.3506 in June and has recovered since then. The coin has converted the important resistance of $ 0.4013 into support. In addition, the coin has risen over the lines of the sliding average of the last 50 and 100 days, while the MacD has risen over the neutral point.

Because of these indicators, there is the possibility that the Celo token will continue to rise. The high of this month of $ 0.6751 could be sought as the goal. An increase over this level would point out that the bulls have the upper hand and the price could achieve the next level of resistance of $ 0.9270, which corresponds to an increase of about 62 % compared to the current price.