• The Celo cryptocurrency price has seen a parabolic rise over the past few days.

  • The growth of the network ecosystem continues to accelerate.

  • Celo recently integrated Chainlink into its ecosystem.

Cello The price has rebounded spectacularly this month, making it one of the best performing cryptocurrencies in the industry. The token surged to a high of $0.6736 on Monday, its highest since April 19. It is up more than 85% from its low in June.

Celo users continue to grow

Celo is a fast-growing blockchain that is gaining traction among developers and users. The platform is used to build quality dApps in any industry, including DeFi and non-fungible tokens (NFTs). It can process about 11.99 blocks per second.

The Celo ecosystem continues to grow. According to DeFi Llama, the total amount locked (TVL) jumped to over his $116 million. His DeFi apps, the largest in the ecosystem, include Mento, Curve DEX, Uniswap V3, Moola Market.

The main reason for Celo’s skyrocketing price is the growing number of active users in the ecosystem. For example, according to data compiled by Dune Analytics, the number of transactions in the ecosystem has skyrocketed to over his 228 million.

Over the years, Celo has processed over 20.15 million blocks and the number of active addresses has skyrocketed to over 2.4 million. We have handled over 12.1 million contracts.

Another important news for Celo is the developer’s recent integration. wire meshof data feed. Chainlink is the world’s largest oracle network. Oracles are platforms that connect off-chain data to on-chain. Celo’s head of ecosystem growth said in the announcement:

“The Chainlink Data Feed will empower Celo developers, provide critical access to Oracle data and services, and power Celo’s dApps to drive real-world impact and solutions.”

Celo price prediction

The 4H chart shows that the CELO crypto price has shown a strong bullish trend over the past few weeks. As it surged, the token broke above the June 3rd high of $0.5686, a key resistance level. It has broken above the 25-day and 50-day moving averages.

At the same time, the Relative Strength Index (RSI) rose to overbought levels. The MACD has risen to its highest level in recent months. Therefore, the coin is overbought and Celo may retreat and retest the $0.5686 support.

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By Jules

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