Celer Network price is up 19% today, becoming the biggest gainer on Crypto.com. Also, it’s trading now at $0.15, with a 24 hour trading volume of $668 million.
Furthermore, more details on Celer Network will give us an insight on why the rise.
The Celer Network
More so, Celer Network is a Layer-2 scaling platform just like Loopring with plans to bring low-cost blockchain applications on Ethereum and Polkadot.
Also, One major use of Celer Network is their recent launch of the world’s first Generalized State Channel Network (GSCN). Of course, it uses zkRollup technology to push the frontier in Layer-2 scaling solutions.
Notably, The network is a solid competitor to LRC. So, CELR price is spiking due to more users noticing the potential of Layer-2 scaling solutions.
Additionally, Celer Network rolls out its mainnet launch of cBridge 2.0 to celebrate reaching $1 billion in volume on cBridge 1.0.
Currently, CELR is trading at $0.14, showing 21% increase in the past 24 hours. Also, it has a total supply of 10 billion, with a circulating supply of 6 billion. Then, its market cap is $905 billion, making it the 118th largest cryptocurrency on the market.