Why Celo Is Going To Explode In 2022

The future of DeFi is here. Find out why Celo is a good buy now. 

Last Updated February 4th 2022
6 Min Read

The blockchain space has spread to almost all market sectors. Various cryptocurrencies are targeting different sectors to leverage the progress of blockchain technology. One such unique crypto project is Celo, and the market sector it is targeting is the mobile phone industry and its users.

The cryptocurrency is targeting mobile users to facilitate simple and accessible transactions. It has had a massive rally over the past few months, making new record highs. Let us explore why Celo is going to explode in 2022. 

The Celo project is optimized explicitly for mobiles and allows users to pay gas fees instantly on the application. The purported goal of the project is to crack the mobile phone industry and thereby promote the adoption of cryptocurrencies to a broader audience. As a result, CELO had a positive rally in 2021, and now investors are curious whether it is a good investment for 2022. 

Looking At 2022: Is Celo All Set To Explode This Year

The team behind Celo is a blockchain-based network that aims to connect billions of smartphones to the cryptocurrency space and eventually make crypto a household name. There was a wide gap between the number of smartphone users and cryptocurrency users, which the founders aimed to fill using Celo.

Let us see why analysts thinks the Celo coin could explode in 2022 and it is a potential investment option today. 

#1: CELO’s Growth

The price of CELO has been on a massive rally over the past few months, hitting new all-time highs. The project’s primary goal is to ensure that everyone has equal access to decentralized finance (DeFi). It does this by deploying a broad range of smart contracts within its blockchain network. Moreover, the trading volume of CELO has been on a continuous rise recently, indicating an increasing demand by cryptocurrency traders. 

The Celo token also has a wide range of utilities and features. Token holders can use it to pay for transactions within the Celo ecosystem, increasing the demand and value of CELO over time. 

#2: Unique Features Of Celo Blockchain

Celo blockchain stands apart from its competitors because users’ wallet addresses, where one’s crypto is stored, are tied to their mobile phone numbers. Therefore, anyone with a smartphone can send, receive, and transact with the crypto seamlessly in a user-friendly manner. Celo aims to make crypto payments easy for everyone with a mobile device. Anyone can send and receive crypto by using their phone numbers as public keys. Its goal is to provide utility to the marginalized regions where most people do not have access to conventional banking services. 

Thanks to Celo, smartphone users can now access several aspects of decentralized finance through its array of smart contracts and decentralized applications. In addition, the platform users can also utilize cryptocurrency to make governance decisions through voting.   

#3: Celo’s Applications

The Celo ecosystem has three primary applications for crypto payments. They are:

  • Valora: Specifically for iOS and Android users using mobile numbers as addresses
  • Celo Wallet: A crypto wallet built for desktop users
  • Celo Terminal: For building dApps

As different applications target different users, it makes the network more efficient. Moreover, new users on the platform could significantly increase the token’s demand and interest, eventually pushing the price of the CELO to new highs. 

#4: Expert Prediction

Coin Quora:

“If this bullish trend continues, CELO will reach $15 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $25. Then this rise will slow down, but no major falls are expected. With upcoming partnerships, and developments reaching $15 is quite optimistic in the price point of view but undoubtedly feasible for the near future”.

DigitalCoin:

“...expects Celo to trend upwards to $4.48 in April, decline to a yearly low of $3.89 in November, rebound and end the year at $4.37 in December — closing only slightly higher than it started.”

Check Out: Should You Buy Celo? 4 Pros, 4 Cons

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Factors That Drive Celo To Explode In 2022

Thanks to the token’s utilities, Celo could be a potential buy now for generating returns over the long run. 

1. An Expanding DeFi Ecosystem

Celo is a fast-growing DeFi ecosystem, which bodes well for the future of Celo investors. The team has been busy incentivizing developers to build DeFi services on its platforms. It has even built a bridge, known as the Optics Bridge, to Ethereum (ETH) and Polygon (MATIC), facilitating seamless transfer of assets between the different chains. 

Moreover, with the ‘DeFi for the People’ initiative that emerged out of Celo’s partnership with leading DeFi projects in the market, the team is venturing more into the world of decentralized finance applications. The total value locked on Celo has increased considerably in 2021, surpassing $1 billion in October. If the token continues to maintain its performance, Celo could be a good buy now. 

2. 0x Expands Partnership With Celo

0x has expanded its partnership with Celo to distribute $4.5M to the DAO ecosystem. Celo's head of ecosystem growth, Xochitl Cazador, mentioned that this new partnership is specifically designed to foster the rapid extension of a "truly decentralized DeFi within the 0x community DAO.”

Moreover, it is followed by an agreement between the two firms to integrate a zero-cost 0x API functionality on the Celo blockchain. This will enhance the experience of DeFi for developers seeking to access multi-chain aggregated decentralized exchange (DEX) liquidity services.

Why Celo Is Going To Explode In 2022

Invest in CELO now to double your money over the long run 

With its efficient and robust catalogue of decentralized applications, Celo aims to provide much-needed financial services to both the banked and the unbanked. Its advanced smart contract capabilities make room for more DeFi projects and dApps to be built on the Celo platform. Moreover, in the future, the platform also has plans to host different stablecoins, with the Celo Dollar (CUSD), which is already in use. Along with offering faster transaction settlement time, the Celo token is also highly sustainable, making it a good buy for environmentally conscious investors. 

With an address-based encryption scheme and a stable-value asset, Celo has successfully addressed two of the biggest barriers to the large-scale adoption of cryptocurrencies - the difficulty level of its use and purchasing-power volatility. 

Therefore, the CELO token price shows quite bullish tendencies in the future and could likely be a good investment for investors. Moreover, if the Celo ecosystem continues to attract new DeFi projects, the value of the CELO token will explode significantly in the coming years. 

Read Also: Could Celo Be A Millionaire-Maker Coin?

The Bottomline 

Today cryptocurrencies are a powerful financial tool. However, unlike any other altcoins, the Celo platform offers a credible solution to the cryptocurrency space by addressing an actual problem. Therefore considering all its potential and the possible upward momentum predicted for the token’s price, Celo could likely explode in 2022.  

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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