TL;DR
The token saw a sharp price increase after the DOJ called for a severe prison sentence for ex-Celsius CEO Alex Mashinsky, accusing him of years-long deception and financial misconduct.
His court hearing is scheduled for May 8.
CEL Reacts to the Request
The native token of Celsius Network – CEL – has seen a steep decline in the past months, plunging below $0.06 earlier in April and later rising to around $0.08. Over the past 24 hours, though, it experienced an 80% price rally, climbing to a 12-week high of almost $0.18. It later lost some ground and currently trades at roughly $0.14 (per CoinGecko’s data), representing a 70% increase on a daily scale.
CEL Price, Source: CoinGecko
Despite the recent surge, it stands far away from the all-time high of over $8 observed in June 2021. Back then, the asset’s market capitalization neared $3.5 billion, while as of this writing it is at a mere $5.1 million.
CEL’s latest upswing follows the US Department of Justice’s (DOJ)
We współpracy z: https://cryptopotato.com/cel-exploded-80-as-us-doj-seeks-20-year-sentence-for-celsius-founder-mashinsky/
