Celsius auction has Gemini and Coinbase as new bidders Report

1. Celsius Network hosts auction The main topic of this article revolves around the cryptocurrency lending platform Celsius Network's auction of up to 6 million CEL tokens. The tokens will be sold to institutional and accredited investors,and the proceeds will be used to fund future loans. As per reports,the bid has already received interest from some of the leading digital currency exchanges such as Gemini and Coinbase. The auction is being facilitated by BnkToTheFuture,a fundraising platform for fintech companies,and it is expected to close on November 25th. 2. The role of CEL tokens in Celsius Network platform The article explains that CEL tokens are the native tokens of Celsius Network,and they play a vital role in the platform's operations. Users can earn higher interest rates on their deposits and can also access several benefits like interest discounts,loan discounts,and higher loan-to-value ratios if they choose to hold CEL tokens within their wallets. Celsius Network has seen a surge in demand for its services,and the funds generated from this auction will aid in serving the growing needs of its customers and expanding its operations worldwide. 3. Interest of exchanges in CEL tokens The piece describes that the participation of leading exchanges like Gemini and Coinbase is a promising sign for the cryptocurrency industry. It indicates a rising interest of traditional financial players in the digital asset space. New bidders like these increase the competition in the market and can ultimately aid in improving the infrastructure and regulations for cryptocurrencies. In addition,the rise in demand for CEL tokens from big players in the industry also paints a positive picture for the future of Celsius Network and its native token.

source https://titdoi.com/news/Celsius-auction-has-Gemini-and-Coinbase-as-new-bidders-Report