For the first time since August 2018, the crypto lending and borrowing platform Celsius Network was launched, it has <a href="https://celsius.network/" target="_blank" rel="noopener">surpassed</a> 50,000 deposited Bitcoins whose worth is more than $380,000,000.

Currently, the company’s growth is on track, it has outperformed 2019 by 60 percent and has got more than 100,000 active users of its app.
<h2>Result Of 2020 Bailout</h2>
On May 01, 2020, the CEO of Celsius Network, Alex Mashinsky, said that the rapid growth in the network’s user base and deposits shows increasing agitation which is the outcome of 2020 bailout situation.

He further stated, “Most of the benefits went to the too big to fail and those close to the Washington giveaway plate. Celsius represents the opposite of that.”

The network’s CEO explained that for Celsius Network every person is the same. If a person has $10 or $10 million, the company always interest their customer in the best manner.
<h2>L-Shaped Or V-Shaped Economic Level?</h2>
A day after the stock market of the United States recorded its biggest monthly rally, Mashinsky notified that he believes that post-coronavirus the country’s economic activity would be L-shaped. But he also mentioned that the stock market of the US does not believe the same way, in fact, according to it, the country would have a V-shaped level of economic activity.

A report suggests that since the year 1987, it was for the first time the stock market recorded its biggest monthly rally.

The CEO of Celsius Network mentioned that the demand for crypto lending is increasing in the market because there are some people, who are aware of the fact that soon the world would have to face hard times.

In August 2019, the network lent around $ 2.2 billion in coin as loan and became the fastest growing crypto lender. And after three months the loan value doubled, reached $4.25 billion.

The company provides different interest rates to its customers on their deposits, whether it is Bitcoin, Ether or even Altcoins.

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Celsius Network Surpasses 50k In Bitcoin Deposits Since Launch In 2018

For the first time since August 2018, the crypto lending and borrowing platform Celsius Network was launched, it has surpassed 50,000 deposited Bitcoins.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Celsius Network Surpasses 50k In Bitcoin Deposits Since Launch In 2018

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