One of the cryptocurrencies making headlines of late has been Celo (CCC:CELO-USD) and eGLD crypto. A range of Celo news has permeated in recent days, causing a violent upward swing in the price of CELO. Today, CELO is up approximately 80% as investors pile into this DeFi/borderless payments play.
Indeed, Celo is an intriguing cryptocurrency play, for a variety of reasons. This leading decentralized finance platform is currently being used for an intriguing initiative. Today, it was announced that mobile-focused blockchain Celo is launching a $100 million “DeFi for the People” fund. This fund aims to bring DeFi and dApps to the 6 billion smartphone users globally.
Indeed, this is an ambitious goal, but it’s one that crypto investors seem to be latching onto. A number of high-profile partners have partnered with Celo to make this happen. Accordingly, various grants, initiatives and incentives will be provided to achieve this aim.
Given the publicity this news has brought, perhaps today’s move in CELO isn’t surprising. However, those interested in what Celo and the cGLD crypto are may be intrigued to learn more. Let’s dive into a few things investors may want to know about this crypto platform.
What Investors Need to Know About the cGLD Crypto
- The cGLD crypto is the native token of mobile DeFi platform Celo.
- Accordingly, cGLD facilitates seamless cross-border global payments potential to users.
- The range of dApps on the Celo platform are impressive, including the native Celo wallet.
- Users on the Celo platform create an ecosytem of native stable coins, pegged to various fiat currencies.
- Accordingly, these have grown in interest among crypto investors of late, for a variety of reasons.
- Through the Celo Foundation, the company hopes to bring a financial ecosystem to everyone to support the growth and development of this open-sourced platform around the world.
- Currently, CELO trades at $7.95 per token, at the time of writing.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
