Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Celer Network (CELR): Price Updates, Technical analysis, Recent Developments, Future Events, Community

Cryptocurrency Nov 12, 2021 07:30AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Celer Network (CELR): Price Updates, Technical analysis, Recent Developments, Future Events, Community

  • Layer-2 scaling platform Celer Network has launched its cBridge 2.0, promising better performance
  • The original cBridge recently crossed $800 million in total cross-chain transaction volume
  • The Celer Network currently supports interactions with Ethereum, Binance Smart Chain, Polygon, Avalanche, Fantom, and even Huobi ECO Chain
  • The cBridge 2.0 Mainnet is scheduled to launch in November, with its native token, CELR, already showing bullish signals

The Celer Network is a layer-2 scaling platform for integrating fast, secure, and low-cost blockchain applications on blockchains like Ethereum, Polkadot, and other blockchains. As such, it sells itself as the most advanced layer-2 scaling platform.

Celer runs on a cleanly layered off-chain architecture that enables and encourages different implementations on each layer. The aim is to build a decentralized ecosystem capable of supporting large-scale, secure, private, and trust-free information-value exchanges.

As a scaling solution on Ethereum, Celer compares itself with the layer-2 Bitcoin Lightning Network. As a result, developers use the Celer Network to build cost-effective dApps. Having launched its alpha-mainnet on July 7, 2019, how is the Celer Network now performing?

Recent Developments

As with high-performance blockchains, the Celer Network is growing at a breakneck pace. On November 11, the Celer Network announced that it had exceeded $900 million in total cross-chain transaction volume. The project revealed it had 34K+ users around the world.

Exactly a week ago, Celer celebrated crossing $800 million in total cross-chain transaction volume on the cBridge. On November 4, Celer had just 20+ partners with 32K users helping bridge the shared Celer blockchain ecosystem together.

Improving on its already impressive technology, the Celer Network recently launched the cBridge 2.0 Testnet. Celer’s cBridge became renowned for supporting some of the most popular chains including Ethereum, Binance Smart Chain, Polygon, Avalanche, Fantom, and even Huobi ECO Chain.

Celer Network built the cBridge 2.0 to provide a much simpler user experience for users. In addition, the 2.0 is more scalable and has a deeper multi-chain liquidity management system to support billion-dollar daily cross-chain transfer volume to mass users.

The new cBridge 2.0 testnet introduced its community to an integrated liquidity mining farming experience. This will provide its users with a better way to start farming without any additional steps of staking LP tokens.

Along with the cBridge 2.0 Testnet launch, Celer Network introduced a cross-chain bridging campaign and received feedback from its community on areas to be improved on the network.

Since the cBridge 2.0 Testnet was launched, there have been several updates, with the latest iteration featuring a brand-new State Guardian Network (SGN).

As the final step before the mainnet launch, Celer Network announced community rewards for testing the cBridge 2.0. In addition to the $2,000 feedback and bug reporting reward, the project has set aside $20,000 for individuals willing to test and try out the various functionalities on their new upgrade.

Future Events

Following the success of the cBridge 2.0 Testnet, the Celer Network is preparing for the mainnet launch of cBridge 2.0. According to earlier projections, the mainnet launch was scheduled to happen in mid-November, so we are just days away from the event.

Aware of the security challenges of DeFi, Celer Network has announced a multi-million dollar bug bounty program along with its mainnet launch. In addition, the network has also carried out three independent smart contract security audits, whose results will be publicly released.

Price Update and Technical Analysis

Unlike most of the crypto market, Celer Network (CELR) enjoyed one of its biggest rallies in September. CELR opened in September at $0.04811, before rallying to its all-time high of $0.1987 on September 26.

The September price chart of Celer Network (CELR). Source: Tradingview

In October, the price of CELR dropped by almost 30% as other cryptos rallied. However, November brought a wave of relief for CELR, with the coin trading in the green once again.

At the time of this writing, CELR trades at $0.127477 on the back of a 15% price rise over the last 24 hours. The Celer Network is ranked as the 126th largest crypto, with a $768 million market cap.

The five-day price chart of Celer Network (CELR). Source: Tradingview

On October 9, CELR registered another spike that saw the coin peak at its current 45-day high of $0.1929. Since then, CELR has consolidated in the $0.12-$0.15 range.

The weekly simple moving average (SMA) and exponential moving average (EMA) all support a bullish outbreak for Celer Network. The daily sentiments for CELR are the same, with 80% of the SMAs and EMAs supporting a bullish outbreak for CELR.

If this scenario plays out, CELR will look to retest the $0.1400 resistance level in the short term. If the coin is able to maintain a prolonged rally, then CELR could look to reclaim its 30-day high of $0.1626.

However, continuing its 6% decline of November 11 will see CELR retest its support zone of $0.1205 before looking to fall to a stronger psychological support zone at $0.111.

Given the current performance of Celer Network and the upcoming mainnet launch, a bullish breakout is a favored scenario.

On The Flipside

  • While Celer Network has been shown to have one of the best layer-2 technologies, it lacks popularity
  • Compared to its 34K+ users, the Bitcoin Lightning network hit 10 million users in October


While Celer Network may not have the biggest community with only 34k users, it has one of the most committed crypto communities. The community involvement of the Celer Network is outstanding, as members are carried along every step of the way.

After testing the cBridge 2.0, @indozham took to Twitter (NYSE:TWTR) to share his experience. He wrote;

Clearly pleased with the performance of the Celer Network, @CallyM_ tweeted;

Also talking about the performance of the project, Rico Silva wrote;

Soroush Osivand, the founder of Soroosh School, has shared his price prediction for CELR. He wrote;

Why You Should Care?

The Celer Network has some of the most impressive layer-2 technology, which, from earlier reports, would get better with the mainnet launch of the cBridge 2.0. In all, Celer Network is an outstanding project, which needs publicity to become a sector-leading blockchain.


Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7] You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

Celer Network (CELR): Price Updates, Technical analysis, Recent Developments, Future Events, Community

Related Articles

What is CeDeFi, and why does it matter?
What is CeDeFi, and why does it matter? By Cointelegraph - Aug 17, 2022

Currently, CeDeFi’s main downside is the high learning curve associated with its protocols because of their complexity. The concept is still young, and more intuitive and...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
Sign up with Email