Celsius Network (CEL) prepares to make a comeback after its fateful bankruptcy filing in July. The crypto jumped double-digits amid market optimism, making it among cryptoland’s top 10 biggest gainers on Wednesday.
Another crypto lending platform Aave (AAVE) did not get the same positive sentiment and is down 1.57% for the day.
Recent news of Celsius’ resurrection opens an important question. Which one is a safer investment: crypto lending platforms or the new token The Hideaways (HDWY)?
Celsius Network (CEL) Up 26% After Revealing Restructuring Plans
In a meeting addressed to employers, Celsius Network’s CEO Alex Mashinsky revealed plans to make the company a crypto custodian as it goes forward with business restructuring. This will make it function more like a bank that’s in charge of managing investors’ portfolios for the purpose of keeping liquidity in check and wallets safe from theft.
CEL jumped 26.51% to $1.79 after the news, hitting an intraday high of $2.10. Trading volume has also increased to $10 million from $6 million the previous day.
If we zoom the charts out, we can see a much better view of its performance – the token staged a triple-digit improvement of 206% in the last 90 days.
On the downside, Celsius Network’s technical analysis is in the red. The coin’s 50-day exponential moving average is placed above the 20-day EMA which indicates an extended bearish streak.
Its RSI is not performing any better – it rests at 56.51 currently, showing buyer and seller populations are roughly the same.
Aave (AAVE) Drops as Crypto Takes a Hit from Inflation
Aave (AAVE) declined 1.49% on Wednesday after the crypto market takes a hit from the unexpected increase in last month’s US CPI. The coin is last seen exchanging hands at $84.11, erasing last week’s gains.
The early days of September were positive for AAVE. Historical data reveals a 5% improvement in the coin’s liquidity, jumping from $10.3 million to $10.8 million from September 5 to 11.
On September 12, AAVE bulls tried to break the resistance at the $97.0 round figure, only to be rejected at $96.9. Things started to go South from there and sent to retreat to the $82 level.
Aave (AAVE)’s RSI had fallen to 44.54, a level near the critical oversold threshold at 30.0. The moving averages are also not providing any hint of the bulls’ entrance.
If the negative sentiment continues, we expect prices to fall to the immediate support found at $82.2. The $78.8 level is eyed once the price gets a massive sell-off at $80.
The Hideaways (HDWY) is a Steadier Investment vs. Lending Platforms
After staging one of the biggest bankruptcy filings this year that wiped nearly $5 billion off investors’ pockets, we can’t give our trust to Celsius Network (CEL) again. It’s time you reconsider too.
New crypto projects are tagged to be high risk. On the other hand, all of the world’s most successful tokens were doubtful projects once, but they made many multi-billionaires that trusted their vision.
With this, it’s time you look into The Hideaways (HDWY). It is a luxury real estate investment platform offering investors a chance to get started with real estate investing without breaking the bank.
The Hideaways (HDWY) membership gives you access to exclusive offers for as little as $10,000:
- Discounted travel experiences to luxury destinations worldwide
- Global luxury concierge services
- Exclusive lounge access to some of the finest airports in the world
Check them out while they are on presale:
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