Celsius Acquires Backend Crypto Pricing Systems via Chainlink

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In a developmental stance to enhance the Celsius decentralized network, Chainlink Price Feeds dependable properties will be employed in the backend functionalities. This progress in the yielding service will amplify user loyalty. The combination of the networks will go a step further to incorporate 90 decentralized funded price feeds.

The enhancement of Celsius offerings will brand the network as a leading CeFi trading platform that will warrant crypto advances to investors. These user credits will be employed based on a translucent pricing tool and a decentralized network that is comprehensive.

Celsius’s executive board of members declared that with Chainlink coming on board, the CeFi ecosystem would have innovative offerings rooted in transparent services and a decentralized system. With the Chainlink alliance, Crypto investors will be able to manage the volume of collaterals in the Celsius network while borrowing digital assets. Users associated with the CeFi market will instantly have the ability to incorporate Chainlink Price Feeds. This is the initial process of Celsius to have a more rooted backend integration with Chainlink Price Feeds. The leveraged features incorporated as a part of that integration are translucent monitoring, robust infrastructure, exchange coverages, and updates on low deviation.

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In recent years, Chainlink Price Feeds has emerged as a prominent crypto data support and a foremost data quality expert. In regards to Celsius, it will help the system accelerate further to align with the expanding market interest for crypto credits.

With the assistance of Chainlink, crypto investors can exchange their crypto coins to their Celsius wallet account and originate profit bonuses. The facilitation of borrowing fiat USD currency or stablecoins with economic valuations will be an added advantage for the investors.

Currently, Celsius services leading crypto exchange networks and has a host of stablecoin variations. The current market listing at the time of publishing this article regarding Celsius digital association holdings is at $15.6 billion. From the digital association holdings, within 12 months, Celsius has paid out a yield of over $340 million to crypto investors. The enhancement of Celsius backend functionalities will profit the price data systems, which amplify their reliance in light of an unprecedented market environment.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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