CEL prices soared 500% in the 30 minutes before dropping 75%

The original Celsius Exchange (CEL) token has risen more than 500% from $0.33 to $2.56 in just a few minutes.

However, the rebound was short-lived as prices fell back to $0.56 within minutes. At the time of writing, prices were still up 115% for the day, opening at just $0.26.

This recovery is more than just a single broker, with BitFinex, FTX, Gate.io, and OKEX all experiencing similar injections. However, the highest peak is FTX, which shows a large buy-in market on the top US exchange.

There have been endless rumors, speculations, and fussing about the liquidity of Celsius over the past few days. As Bitcoin (BTC) prices plummeted at the beginning of the day, many people followed the Celsius vault on the Maker protocol. This spike was highly unusual when Celsius added collateral to the vault to prevent an earlier intraday liquidation.

The cause of the pump is unknown at the moment because this is an ongoing story.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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