Of course, the crypto market together with many Altcoin is currently experience huge decline and crash even as bitcoin goes deep down into the $40,000 level.
However, One Mid-cap altcoin is not following the crash as it surges high making major moves.
Meanwhile, The Two Popular cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), are seeing declines of around 5% and 10%, respectively, over the past seven days.
But, Celo (CELO) is not following this trend. has gone against the trend. It is the mobile-first platform on crypto payments and financial dApps (decentralized applications).
The Altcoin is seeing an upward trend of around 30% over the past week, according to CoinGecko.
Altcoin CELO’s rise amid a market meltdown is in relation with the Celo Foundation’s head of ecosystem growth Xochitl Cazador. Additionally, It reveals that the Altcoin, Celo blockchain is recording approximately 500,000 daily transactions.
Furthermore, Celo Ecosystem now has over 2,000 builders across 133 countries, as Cazador notes.
Around late August it announced an initiative targeting to take DeFi to mobile smart devices by incentivizing building on Celo.
Additionally, The Ethereum DeFi projects in the initiative include Aave (AAVE), Curve (CRV), and Sushi (SUSHI). More than $100 million in “educational initiatives, grants, and incentives” is announce also.
Altcoin CELO’s recent surge follows another big 2021 milestone. In June, cryptocurrency exchange Coinbase listed CELO on its trading platforms.
At the time, CELO is at 122nd by market cap ranking according to CoinGecko. Lastly, Altcoin CELO is currently ranked 65th.