Celsius Weekly CEL Token Burn

Celsius Network does a weekly CEL token burn every Friday!

Announced on the October 1st, 2021 AMA, Celsius Network will be doing a weekly CEL token burn every single Friday. This makes the CEL token a deflationary token with utility. The amount of CEL tokens burned depends on the weekly earnings, and is therefore variable.

Currently, the amount of CEL tokens to be burned is equal to 10% of the total weekly earnings. This is an additional 10% on top of what is already paid out in the form of community rewards. Therefore 110% will be purchased off the open market every week and burned (or permanently destroyed).

Please note that the CEL tokens burned will not come from the Celsius Treasury. We believe that the burned CEL tokens can come from the OTC desk which includes large sums of CEL tokens currently owned by large investors, stakeholders, employees and other unlocked tokens.

Note that it is not uncommon for cryptocurrency companies and networks to burn their own token. The reason for burning tokens is different for each specific company and we unsure why Celsius Network has decided to burn CEL tokens weekly. However, it should place upward price pressure on the CEL token market price from now on.

So in actual fact, if:

Celsius Network assets under management (AUM) keeps increasing via:

  • increase in active users
  • increase in partnerships & institutions
  • increase deposits (net transfers)
  • more users opting to earn in-CEL and/or
  • more assets supported by Celsius

Celsius Network weekly reward payouts keeps increasing via:

  • increase in amount lent out to institutions and organizations
  • more lucrative and increase in DeFi strategies
  • BTC mining through renewable resources and/or
  • other new revenue streams

There will also be an increase in the amount of CEL tokens burned each week (dependent on CEL token price, of course).

Since the total amount of CEL tokens is fixed, then as time passes, the deflationary rate will only increase.

CEL Token Burn Historical Transactions

Date# CEL
Tokens Burned
USD Value*CEL Price
Jun 10, 2022136,157.00$68,272.25$0.50Details
Jun 3, 2022172,955.00$119,291.47$0.69Details
May 27, 2022138,267.00$81,770.69$0.59Details
May 20, 2022142,068.00$116,351.28$0.82Details
May 13, 2022100,620.00$81,449.78$0.81Details
May 6, 2022104,014.00$211,148.42$2.03Details
Apr 29, 202230,680.19$65,042.00$2.12Details
Apr 22, 2022105,826.00$218,001.56$2.06Details
Apr 15, 202287,602.00$201,484.60$2.30Details
Apr 8, 202286,503.00$257,974.12$2.98Details
Apr 1, 202284,297.00$276,494.16$3.28Details
Mar 25, 202279,120.00$257,931.20$3.26Details
Mar 18, 202277,767.00$258,186.44$3.32Details
Mar 11, 202285,881.00$273,960.39$3.19Details
Mar 4, 202282,304.00$261,726.72$3.18Details
Feb 25, 202277,843.00$239,756.44$3.08Details
Feb 18, 202276,631.00$244,452.89$3.19Details
Feb 11, 202275,942.00$258,202.80$3.40Details
Feb 4, 202284,065.00$216,047.05$2.57Details
Jan 28, 202270,735.00$164,725.68$2.33Details
Jan 21, 202268,209.00$201,216.55$2.95Details
Jan 14, 202263,677.00$200,582.55$3.15Details
Jan 7, 202255,300.00$179,172.00$3.24Details
Dec 31, 202161,917.00$246,428.71$4.35Details
Dec 24, 202161,822.00$242,342.24$3.92Details
Dec 17, 202162,929.00$235,983.75$3.75Details
Dec 10, 202163,502.00$249,963.30$3.94Details
Dec 3, 202161,516.00$230,685.00$3.75Details
Nov 26, 202160,213.00$238,692.05$3.96Details
Nov 19, 202159,620.00$251,000.20$4.21Details
Nov 12, 202163,123.00$276,478.74$4.38Details
Nov 5, 202157,842.00$259,132.16$4.48Details
Oct 29, 202156,054.00$269,619.74$4.81Details
Oct 22, 202152,859.00$264,295.00$5.00Details
Oct 15, 202151,847.00$302,786.48$5.84Details
Oct 8, 202152,326.28$300,876.11$5.75Details
Oct 1, 202152,682.00$310,940.39$5.90Details
*Estimated value on day & time of transfer (token burn)