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Celsius Network is bankrupt, so why is CEL price up 4,000% in two months?

Crypto lending platform Celsius Network has an approximately $1.2 billion gap in its balance sheet, with most liabilities owed to its users. In addition, the firm has filed for bankruptcy protection, so its future looks bleak.Still, Celsius Network's native utility token CEL has soared in valuation by over 4,100% in

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CEL Token Seen Making A Recovery Despite Celsius Going Bankrupt

Celsius (CEL) is currently witnessing a mid-crisis bounce. After registering for bankruptcy protection in the face of various probes, the token’s value transcended pressure and increased by more than 25 percent on Saturday. Despite the present efforts of its management, the Celsius Network token is exhibiting indications of a revival, according to

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Analysts See Recovery for CEL Token Despite Celsius Bankruptcy

“It’s crucial to observe the price changes in combination with the actions taken by Celsius’s management team,” said Anton Gulin, business director at crypto exchange AAX. “They handled the crisis very well, repaying their debt, freeing collaterals and applying for a specific bankruptcy clause, where they restructure the business rather

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