The reason why the cryptocurrency market wobbles

 One of the reasons the cryptocurrency market has plummeted in value in recent days is said 

According to Fortunes, the Celsius problem is one of the reasons why the Bitcoin price has dropped to its lowest level since December 2020, to less than $22,000 per coin. Other cryptocurrencies also plummeted with 10-50% declines. Celsius's CEL token is down more than 50% from before and is only $0.18 per coin. The cryptocurrency's market cap is now $76 million, much lower than it was a year ago, when the token hit $8 each and the market cap was $3.4 billion.

Before June 13, the Celsius representative admitted that they found it difficult when the number of customers withdrawing money was strong but could not do anything. After the announcement was made, the company sought to reassure users on Twitter by making a commitment to reopen trading soon, but "there will be delays".

Celsius offers high returns for crypto depositors to the platform. Before being stopped, the deposit interest rate in the system was 18.6%, many times higher than that of traditional banks. Even the interest rates sometimes increase up to 30%. Many experts have warned that this will cause Celsius problems soon due to the lack of collateral.

Kate Kurbanova, rumor
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