Crypto lending network Celsius has posted a release about platform growth. Launched in 2017, Celsius now claims 75,000 users worldwide. According to the company, it currently holds $730 million in deposits and collateral from loans under management. This is an increase of 62% from $450 million on November 12, 2019.
Additionally:
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$11 million in interest payments, a staggering increase of 120% from just $5 million on 11/12/19
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$6.2 billion of coin loans in today’s BTC prices since beginning its lending operations in July 2018, an increase of 46% from $4.25 billion on 11/12/19
According to a company representative, there is a “surging market demand for interest income from retail users” as well as a need to enable “wealth creation for depositors and liquidity for market makers and takers.”
According to Celsius’ website, cash and stablecoin loans start at 3.47%. If you want to park your crypto, Celsius says it will pay you up to 12% APY (as of today).
Just recently, Celsius announced it would start offering compounded interest rates for users keeping their crypto with the platform.
RT if your $crypto is now COMPOUNDING! 🤑🔥🚀
— Celsius Network (@CelsiusNetwork) January 22, 2020
