CELO outperformed every major and minor asset class as its price exploded by more than 50 percent in just one day of trading.
The utility token for the smart contract platform, Celo, rocketed to an all-time high of $20 on Bittrex from a meager $3. That extended the upside by almost 500 percent until a quick pullback of an equal proportion took back a large portion of those intraday gains.
That brought the price back to modest levels near $4.5, still up about 55 percent for the day.
CELO topped at $20 briefly before correcting by more than 80 percent. Source: TradingView.com
The massive upside move in CELO markets, meanwhile, followed the news of its listing on Coinbase Pro, one of the world’s leading regulated crypto exchanges. That opened up the prospects of the cryptocurrency’s exposure to mainstream traders and investors.
At the same time, the news also ensured better fiat liquidity for the token, as Coinbase Pro offers the US dollar, Great Britain Pound, and Euro trades.
The platform will begin accepting inbound transfers