What is CELO – Phone Payment System

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People utilize several apps to send money to one another, and these apps have made the users’ lives easier. Instead of physically going somewhere, even if it’s to the bank. These apps have made transmitting money as simple as a few mouse clicks. The nature of these applications is that they are centralized. They are becoming increasingly popular because of their simple and inviting user interface. What if we brought this project into the blockchain world? (Here, Celo enters the chat here).

Celo makes it simple to transact using your phone. Celo provides the benefits of blockchain to ordinary people by using the same concept of money transfer. This allows for increased security, secure transfer, and transactions. It hosts smart contracts and decentralized applications (dApps) that allow users to immerse themselves in the decentralized environment. Whereas most wallet addresses include an average of 42 letters that are practically impossible to remember, Celo uses your phone number as a wallet address, allowing you to use the network on the go without having to search for addresses.

The ecosystem is supported by their native token CELO for the network transactions gas fee as well as for the governance votes. CELO’s stablecoin CUSDT has a direct impact on its pricing. CELO’s price fluctuates in such a way that the stablecoin stays at $1.

Price Movement – CELO

At the time of writing it is being traded at the price of $5.06 with an increase of almost 5.51% in the last 24 hours. It is a really strong token fundamentally. The maximum and minimum today are $5.12 and $4.76 respectively. The daily trading volume has also increased by almost 33.33%. It had created its ATH in August 2021 and reached a price of almost $10.975. The price later dropped down to a price of $3.786 and the monthly candle closed there. The price has been bearish on higher time frames and we saw a decrease of about 17.35% in the month of November. This month the price has lost about 1.09%.

Price Prediction

CELO is a really strong token. We can expect growth in the price in the future. According to wallet investor, CELO is expected to reach a value of around $7.553 in a year and is expected to reach a value of $18.069 in five years. The traders are optimistic that it would be worth much more in the future.

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