It was bound to happen.
Two weeks in on this platform and I've been writing up a frenzy, trying my best to stick to a schedule, posting two articles a day and hoping that the stories I shared were, at the very least, entertaining. This afternoon, however, I hit a block. My brain's stuck in sludge. I have a thousand drafts but I can't seem to plug into the adrenaline I need to effectively complete any. If my brain were currency, I'd say the bears have taken over my thoughts.
Anyways, enough about me. Are you guys paying attention to Celer?
Over the past few days, this token has been posting double digit returns, shaking off negative news that weighed on the crypto market this week, and posting an all time high of $0.184 today.
Now, I know, if you're conservative, you might be thinking, too many green candles to get in right now, I'd rather buy the dip. But based on the projections posted on TradingView earlier this evening, CELR's still a strong buy, and given that it's trading for pennies on the dollar, I mean, it definitely has a very attractive entry point.
So who knows? It might be that the best is yet to come.
Let's talk about it.
According to its website, Celer Network is a layer-2 scaling solution founded in 2018 to bring fast, secure and low cost blockchain applications on Ethereum, Polkadot and other blockchains to mass adoption. The platform uses off chain transaction handling to help to increase the scalability and the transaction throughput of its network.
Defining Layer 2 Solutions
As technical writer, Kevin Dwyer explains on CoinMarketCap, layer 2 solutions are networks designed to increase the speed and efficiency of blockchains. They provide scalability solutions by establishing an additional protocol that is built on top of layer 1 blockchains, and they strive to increase throughput without tampering with any of the characteristics that are integral to the original blockchain.
Why is Celer's price surging?
Earlier this week, the Celer Network launched its cBridge 2.0 cross-chain token bridge, facilitating the transfer of assets between multiple blockchain protocols and promising a better user experience and lower costs.
Among the blockchain protocols to benefit are Ethereum, Binance Smart Chain and Arbitrum. Celer outlines the benefits to be derived from cBridge 2.0 on its website. User benefits include: deep liquidity to support larger transfer size, simpler operations, native gas token unwrapping, access to more tokens and chains and an insured bridge node Service level.
On social media, some users are projecting that this token would continue an upward progression to US$1. But what do you guys think? Do you see CELR continuing on this bullish trend and posting more gains? Did you buy the dip earlier this month, or are you going to FOMO in now that prices are pumping?
Please remember to extensively research any project you intend to invest in, and given the volatility of this market, only invest money you are prepared to lose!
That said, I'd love to hear your take on this project! Are you on board with it?
Okay guys, I'm out for the evening. I think it's been a long week chasing stories. I appreciate all the new followers who have supported my work and dropped in to show love. It really means a lot and encourages me to keep on writing. Hopefully, with a little rest I'll be pumped enough to write better and more work that is worthy of the interest you have shown. So until tomorrow, guys, please be safe!