Celsius Network 

CEL Price

What is the Celsius Network (CEL) token?

Celsius Network was a centralized crypto lending platform founded in 2017 by Alex Mashinsky, offering interest-bearing crypto accounts and collateralized loans. CEL, an ERC-20 token on Ethereum, served as the platform's loyalty and fee-discount token. Celsius froze customer withdrawals on June 12, 2022, and filed for Chapter 11 bankruptcy on July 13, 2022, with roughly $4.7 billion in customer liabilities. The platform shut down permanently on February 29, 2024. CEL now trades as a residual asset with no operating platform, no utility, and no earning program — any valuation rests on residual speculative demand, not fundamentals.

Is CEL a coin or a token?

CEL is a token, not a coin. CEL is an ERC-20 token on Ethereum — CEL runs on Ethereum's infrastructure rather than powering its own blockchain. The token also exists in bridge deployments on Gnosis Chain, Fantom, Polygon, and Energi. DropsTab classifies Celsius Network under Lending Platform, alongside the DeFi and Ethereum Ecosystem categories.

What happened to Celsius Network?

Celsius Network collapsed between June 2022 and February 2024. Withdrawals froze on June 12, 2022, and the company entered Chapter 11 on July 13, 2022. Celsius emerged from bankruptcy on January 31, 2024, and closed its apps and customer operations on February 29, 2024. Founder Alex Mashinsky pleaded guilty to fraud in December 2024. Alex Mashinsky was sentenced in May 2025 to 12 years in prison. The operating business wound down into Ionic Digital, a creditor-owned entity holding Bitcoin mining and litigation assets.

Is CEL still trading?

Yes — CEL is still trading, but only on a small number of venues. Nearly all listings from the token's peak — Bitfinex, OKX, Huobi, and Bittrex — disappeared through delistings or venue failures. Remaining liquidity is thin enough that even modest orders face heavy slippage. Any surviving venue can delist CEL without notice.

Where can I buy CEL token now?

CEL trades on a handful of remaining markets, split between centralized and decentralized venues. A couple of CEX spot pairs exist, both quoted against USDT; Gate's CEL/USDT is the deepest remaining centralized venue. A small number of DEX pairs run on Ethereum — Uniswap V2 and Sushiswap, both against WETH — and Uniswap V2 is the main on-chain fallback. No derivative markets exist for CEL. Trading volume across tracked markets is negligible.

What is the CEL token's total supply?

CEL launched with a fixed maximum supply of 695,658,161 tokens under its original 2018 design. On April 30, 2024, Celsius burned its entire treasury, permanently destroying roughly 94% of all CEL. No emission schedule exists after the burn — the surviving tokens circulate with no scheduled issuance, and supply can only decrease further. The current supply figure appears in the tokenomics panel on this page.

Does CEL have a vesting schedule or upcoming token unlocks?

CEL has no vesting schedule and no upcoming unlocks. The only vesting ever attached to CEL covered the 2018 pre-sale — 260 million CEL sold at $0.20, vesting over two years — and that schedule fully completed around 2020, years before the collapse. The April 30, 2024 treasury burn removed the company's remaining centralized holdings. Unlock-driven sell pressure for CEL is therefore nil; the meaningful supply event is historical.

Which investors backed Celsius Network and how much did it raise?

Per DropsTab fundraising data, Celsius Network raised $400M in a Series B led by WestCap and Caisse de Dépôt et Placement du Québec (CDPQ) in September 2021, at a valuation above $3 billion. An extended Series B added $350M in November 2021. The 2018 token sale brought in roughly $71.5M — $52M in the pre-sale at $0.20 and $19.5M in the public sale at $0.30, an unusually high ~50% of supply sold to the public.

What did Celsius Network's investor roster signal?

The roster included top-tier institutional capital — CDPQ manages a Canadian pension fund — which signaled mainstream validation at the 2021 market peak. The institutional signal carried realized counterparty risk rather than protection. After the collapse, WestCap and CDPQ wrote their equity down to approximately zero, and Tether's exposure to Celsius became the subject of litigation. Institutional backing did not shield depositors or token holders from loss.

Will Celsius creditors receive CEL tokens?

No. Under the bankruptcy plan, creditors received Bitcoin, other crypto assets, and equity in Ionic Digital — the creditor-owned company that absorbed Celsius's mining and litigation assets. No CEL distribution, airdrop, or claim program was attached to creditor repayment. Ionic Digital has issued no token of its own.