Celer Network Price Prediction 2023 – 2030

What is Celer Network?

Celer Network is an off-chain layer-2 scaling platform for multiple blockchains and cross-layer support. The peculiar design of Celer can bring fast, secure, low-cost, interoperable, and off-chain transactions for payments and smart contracts. The project’s main aim is to get mass adoption for blockchain, and it provides low-cost applications on Ethereum, Polkadot, and other blockchains by coupling the State channel and Layer-2 roll-up together. Celer is used to cater to various applications, including micropayment, DeFi, and gaming. By leveraging the advantages of scaling techniques and incentives-aligned crypto development mechanisms, the project allows anyone to build, operate and use highly scalable decentralized applications.

Celer Network was founded in 2018 by four co-founders, Dr. Qingkai Liang from MIT University, Dr. Xiaozhou Li from Princeton University, Dr. Junda Liu from UC Berkeley, and Dr. Mo Dong from UIUC. All are pioneers in blockchain technology and Decentralized financial systems, and they identified off-chain scaling techniques necessary for today’s blockchain for maximum decentralization and scaling capacity. Most importantly, Celer is not a separate blockchain because the founders believed that in-house systems could not solve global blockchain problems. Hence, they come up with an off-chain scaling solution.Celer’s project is unique compared to other crypto projects. Some of its key features include Zero fee-Offset smart contracts, On-chain latency and fee reduction, and smart scalability with the help of an optimal off-chain payment routing algorithm. Celer provides the user with fast and instant interactions, instant payments, interactive games, and a decentralized world, and users can do small transactions without any fee. Furthermore, Celer supports developers by facilitating easy build SDK and a developer platform, driving mass adoptions, and providing easy monetizations. On top of that, Celer currently supports Ethereum and all EVM Compactible blockchains.

Celer Eco-System

The entire ecosystem stands for decentralization, scalability, off-chain operating networks, and product for attracting more audience into the project. Celer ecosystem comes up with applications such as Layer2.Finance, cBridge, and Celer SDK.

Firstly, ‘Layer2.Finance’ is an invention that allows users to access all DeFi protocols at a fraction of the cost. Layer2.Finance acts like a DeFi public transportation system, and it scales up the existing DeFi protocols with no protocol migration, no liquidity segregation, and a one-stop-shop user experience.

Secondly, the cBridge is a multi-cross-chain asset bridge that enables immediate, low-cost, and value transfers across all Ethereum Layer2 chains. Users can connect wallets and do transactions or provide liquidity using the app.

Thirdly, with Celer SDK, developers can easily build low-cost blockchain applications for gaming, DeFi, and cross-blockchain interactions. Adding to that, some of the key products of the Celer Network include CelerX, which is the payment app. CelerX is available on both mobile and the web; it was launched in 2019 and provided easy and quick transactions between two parties.

How Does Celer Network Work?

It is best to fully scale out decentralized applications to bring most transactions off-chain. The related solutions of the same are referred to as Layer2 scaling technology, including state channel, roll-up, and many more. Hence, Celer Network consists of a State channel network, State guardian network, Celer roll-up, and liquidity backing Celer uses a Proof-of-Stake (PoS) consensus variation on every single transaction called Delegated Proof of Stake (DPoS).

Celer Network’s crypto economic and technology stack consists of cStack, CEconomy, State Channel Network, SGN, and Celer Rollup.

cStack:

1. cOS is the core of the network to provide a workflow. It includes common design patterns and handles all chain states’ operations, storage, tracking, and dispute. It brings mass adoption to dApps with an easy API and Software development kit.
2. Channel is for instant transactions settlement, a bridge between multi-chain and multi-layer assets, high-performance, flexible, upgradeable, and fully production-ready.
3. cRoute is for generalized conditional value routing across a network. It consists of multiple chains and layers, and it is fully decentralized with high failure resilience.

cEconomy:

cEconomy is an offline crypto-economic incentive structure model for maintaining stable liquidity.

1. State guardian network provides an efficient computation engine for state dispute, solves connectivity challenges, and provide an efficient computation engine.
2. Proof of liquidity commitment incentivizes a stable liquidity pool.
3. The liquidity backing option provides an efficient liquidity market for a chain scaling network.

State Channel Network:

A state channel admitted mutually disrespectful parties to the smart contract and quickly settled on the latest agreed states. Celer Network’s state channel is a generic framework of state channels with deeply optimized on-chain contracts and off-chain messaging protocols, and this will quickly integrate with layer 1 blockchain. The Celer state channel consists of system architecture, on-chain contracts, CelerPay off-chain protocol, and Celer App contracts. The system architecture of the Celer channel network consists of CelerPay, Celer App, and Celer Node.

1. CelerPay is a payment channel. It supports the off-chain token transfer with arbitrary conditions and on-chain verifiable states. It has a set of on-chain intelligent contracts and off-chain communication protocols and serves as an edge of the state channel network. An off-chain payment can be multi-hops and traverse through multiple CelerPay channels.
2. Celer Apps are generic state channels that can express any application logic. They uncover standard query API for CelerPay so that payment conditions are based on CelerApp’s outcome.
3. CelerNodes are the endpoints that can run state channel protocols of CelerPay and CelerApps. At this point, CelerNode joins the network; it can send off-chain payments to any other nodes in the network.

State Guardian Network:

It is an efficient and scalable side-chain that provides reliability and decentralized services to avoid the security risks of state channels and hassles caused by off-chain availability problems. The SGN system includes four things.

‘Main chain contracts’ hold the CELR Staking process, ‘Delegators’ stake tokens on the main chain contract to vote for governance, ‘Validators’ for SGN services and calculate reward distribution, and ‘Users’ are clients who pay service fees to the main chain contract and submit a service request to the side chain.

Celer Rollup:

Rollup is for scaling layer 1 blockchain. It is a separate and faster chain tied to layer 1 blockchains for security power. The separate layer 2 rollup chain is for computation and stores data of its own. Layer 1 can be used to verify the layer 2 state transition—Celer Rollup helps solve the scalability problems of Layer 1 with a primary focus on the DeFi application.

What is a Celer Coin?

CELR is the native ERC-20 token of the Celer Network based on the Ethereum blockchain. CELR enables payments for handling blockchain transactions, used for multiple incentive systems, and service transaction fees to off-chain service providers. It can be used for staking in the SGN, and CELR holders can stake it to SGN to become the state guardians. Celer Network is unique from other crypto projects. CELR tokens help cEconomy in the following ways:

• CELR is an incentive for maintaining a stable and abundant liquidity pool in the PoL commitment process.
• CELR uses SGN as a membership token to protect state availability. CELR token stakers can get a service fee for various services they provide for the network.
• The token can be used to pay the service fee and transaction fee to off-chain service providers.
• CELR is used for liquidity backing auctions to increase the priority of liquidity support applications.

CELR token has a maximum supply of 10 Billion tokens, among which 25% is reserved for PoLC mining rewards and ecosystem building, 17% for foundation, 20% for the team, 5% for marketing, and 33% for sale. Seed sales comprise 11.5% of the total supply, and private sale comprises 15.5% of the total supply. The private sale happened in Aug 2018 and raised $23.255 M. The launchpad sales consist of 6% of the total supply, with a total raise of approximately $4000,000. In March 2019, the sale of CELR tokens happened in Binance Launchpad. Major liquid trade pairs of CELR include CELR/USDT, CELR/BTC, CELR/BUSD, and CELR/BNB.

Celer Network Technical Analysis

Considering the past price movements of the Celer Network, from starting of 2021 onwards, the Celer Network started its upward journey. Though considerable volatility existed throughout, still, the Celer Network was a good swing option for crypto aficionados, whereas December 2021 has been driven by negative sentiments for most altcoins.

The Celer Network price is noted at a $0.01539 rate, with a 24-hour trading volume of $9,276,254. The current market cap is $109,040,200, with a circulating supply of 7,085,488,367 CELR. The all-time high is $0.1987, which was on Sep 2021, and the all-time low was $0.001014 on Mar 2022.

Although there was a sideways movement initially for the long term, the Celer Network made a medium-term high at $0.0393 on 30th March 2021. Celer Network created a round bottom; later, the CELR price change surged to $0.1987, marking an all-time high. After the all-time high CELR token witnessed a brutal downfall, the average trading price made continuous lower highs. Celer Network (CELR) has not been able to recover from the collapse till now.

Technical analysis intimate prices are moving through a falling channel; from December’s first week onwards, it has fallen below the trendline. Despite the small rises, the CELR price exhibits a heavy crash. The accumulation distribution line is moving in the same direction as the Celer Network price movement, which means the bearish momentum is likely to continue.

Trading volume indicators appear to be down; traders are not interested in trading in the Celer Network. Investors and traders are still confused about buying decisions and waiting for a bull hand from the Celer Network.

CELR has a resistance at $0.020. A bounce can take the CELR Network price to $0.05; above this, bulls may seek out momentum. Celer Network coin price is expected to face the next hurdle at a $0.025 value. This is a hardship for the Celer Network when considering the current momentum, and it is not possible within a short-term period.

Briefly putting the technical analysis, the Celer Network value is cautiously down and revealing a waning negative momentum compared to its highest price. There is no confirmatory trend direction by looking at technical indicators and patterns. Some of the technical indicators are still strongly bearish, and some of them are trying hard to turn into an uptrend.

For a trend confirmation, at least three or four trend indicators should confirm the exact direction, or there should be a clear bullish candlestick formation. Both have not happened till now. The coin has formed a red candle for the current trading session, and the patterns and indicator specify it will continue to form a red candle for the next one or more trading sessions.

For taking an entry, a clear breakout or indicator confirmation is necessary. Hence, the price of Celer Network needs to cross the major resistance level to avoid high risk for a long-term investment.

Celer Network Price Predictions 2023-2030

Cryptocurrency is comparatively a novel investment option as it is always interesting to know about the future of a coin to invest in. Cryptocurrency is moreover coming under the category of speculative investment and involves high risk. So accurate long-term CELR price prediction always involves an ample amount of skepticism.

From the historical data of the Celer Network, this has given around significant returns in 6 months and last year while CELR price is leading to a loss for the last month. Will Celer Network bounce back any time soon? Will Celer Network go high? Let’s dig into Celer Network crypto long-term price predictions! You can know more about other crypto forecasts by clicking here.

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