Welcome to the Weekly Report - Sunday 16th Feb 2020
It's been a few weeks since the last Celsius report and there has been many developments. I've been contacted by a number of ppl and this report is going to get straight to the point and lay it out in the open to be fair to those voices. I hope to answer the questions and thoughts that lots of ppl have been having.
Welcome Alex "The Machine" Mashinsky to Our Group
After a quick vote, the Machine was added to the group. Welcome! Alex has many fans and has help to clarify and allayed concerns about the a portion of his CEL token being sold off for tax purchase. This CEL was sold OTC (Over the Counter, meaning not on the exchanges) and Alex mentioned he has no plans to sell any more. Alex is the reason many of us have deposited in Celsius and bought the token and we are glad to be in this community.
Celsius and Markets - Technicals
Celsius’s price over the last few weeks has seen sideways action. We have seen falls against ETH due to fact that there are signs of a bull market underway in crypto and alt coins are experiencing bullish action has been at the forefront of it. The MACD crossover that we saw a week ago has only seen choppy and slightly bearish action. Though the CEL token has seen support levels hold on in both the BTC and USD charts.
The chart against BTC does show a bearish head and shoulders pattern however we have bounced off support… a break of the 1st resistance level will show the bearish H&S pattern rejected.
The main reason why the price is stalled at these levels is the remaining 97 million tokens that are outside of the app. These are people (some of whom have contacted me) who bought at the ICO and wanted to see a quick flip. However have held onto the token and want to “get out” at a breakeven. So it’s going to take time to clear out this blockage. Once these tokens that are “available” at this level are taken out then we will see the price rise of CEL token, this is inevitable.
This week there has been many big winners including ETH, ATOM, XRP, Tezos and many others. DASH, LTC have seen sideways action due to rises in the previous week. I think the market is showing strong signs of a renewed bull market although we need to see confirmatory signals that this will be sustained. In crypto most of the money made is made in a very short space of time, usually 10 massive days with spikes higher, the main goal in crypto is to catch those days where we see massive price action e.g. 30% or higher days.
BTC has crossover 10k USD ahead of the much anticipated Halvening in May 2020. The stock to flow model predicts a much higher value before the year’s end. I tend to view things against the cost of production and think this bull market will be different than previous one especially in BTC where ever increasing amounts of FIAT is required to push up the price… there will be a resistance and decline at some point… though right now we are a long way off that. We should see BTC breech the 20k USD by the end of 2020.
Community Desired Developments
In App Purchases
This has been a major hot topic in the community, many understand that the process of on boarding new depositors and people into crypto needs to be made easier. In App Purchases provides a simply and elegant solution as people can buy and hold crypto assets and stable coins on the one platform and get yield. This way “newbies” can bypass exchanges and middle men saving time, money (transfer fees) and mess due to a lack of comprehension on how to send assets. This allows current Celsians to teach and introduce newbies into this brave new world of Crypto.
The team have told us this is coming very soon and it can’t come soon enough IMO, Developments like this will sure up Celsius’s competitive edge and be a tremendous help for people who are seeking to buy crypto assets in a “one stop shop”
The only things that gives us all pause is:
1) When is this going to happen
2) Everyone is hoping that any fees or margins for in app purchases will be low.
Either way this is a huge boon for Celsius users and will allow many more people to participate and continue to buy and make further deposits.
Major Exchange Listing
Again much discussion has been made about future listings and the time is now approaching where this is becoming a more important subject.
A major exchange listing is akin to CMC listing, it give more people access to the token furthering its ease of access, it tends to legitimise projects. People tend to want to see something like a Binance or Kucoin, however some major exchanges tend to gouge projects with extortionate listing fees and Alex is well aware of protecting the community although acknowledging that major exchange listing/s are very strongly desired by the community. We hope to see this happen soon.
Lowering Minimum Loan Amount
This year it is hoped that the minimum loan amount will be lowered so that more people can participate in having access to loans on demand with their crypto assets thus making the lending side of Celsius more universally available.
Additional Assets Added
There is a strong desire to have more coins such as PaxG, Tron and others including LINK, ADA etc. Having more assets including staking coins will mean a larger flow of assets into Celsius thus increasing Assets Under Management and creating a strong virtuous cycle of increasing depositors. This is a really strong avenue for the growth of Celsius and cannot be underestimated.
TOP 100 List
The much anticipated release of the top 100 list was warmly welcomed by the community. It gave tremendous insight for us and surprised me greatly to see 100th place being only 220,000 CEL meaning that CEL has a much better distribution than I thought. Although the top 30 token holder amounts makes my eyes water though this is to be expected in any project.
What I took home from the top100 list is that it is truly a larger community which hold CEL token and that the savers in CEL token have a great opportunity to acquire CEL token at the moment as we travel on the road to the inflection point.
Minimum Threshold Concept
Moving forwards there are a few minimum threshold. 1 token is required to participate in Celsius and we have the top100 threshold. Any future "exclusive" introductions such as a credit card or future benefit could be open to only those who have a minimum number of tokens required e.g. 10, 50, 100, 500 etc. If these services come with benefits it would enhance the utility of CEL token. Potential future utility of the CEL token could put tremendous demand for it. This demand for the token as well as the attraction of its utility would attract more people to the platform.
Remaining CEL token
The movement of CEL token into the app continues. Since the last weekly report we have smashed through 100 million CEL and the countdown to the inflection point has begun.
There are 21,461 active depositors with 97,565,200 Available CEL.
4,546 CEL available per user!!!
@ 0.16 usd = $727 usd per depositor
Active Depositors Uptick
Since the introduction of COMPOUNDING Celsius has seen growth in depositors from an average of 60 per day to 100 new depositors per day. This is a 65% increase in average daily new depositors!!! We have also seen “save in CEL token” move from 37.8% to 38.2% this increase is also probably seen since the lifting of interest rates especially in BTC.
Since the introduction of COMPOUNDING interest, which caught the eye of many in the crypto community, the sentiment around Celsius has improved dramatically to the point of excitement with many beginning to dip their toe by depositing coins on the platform. This positivity around Celsius is being seen on social media too and reflected in many enthusiastic comments I have been seeing. Amazing!
My thoughts have remained solely on the inflection point and tracking the token moving into the app… that is going to be the trigger for the CEL token to rise. The most bullish sign isn’t actually the price action but the hodling amount of CEL in the app. This is the one to watch. Also remember in crypto the gains happen in the space of a very short period of time… most of the time we see declines and choppy side ways action… it’s probably only 10% of the time during the year that we see 90% of the gains. This is the reason why we HODL for these opportune days… also by the time these days happen it’s too late to FOMO in as the explosive price action happens so quickly. So have faith and HODL strong!
In summary, accumulate and wait for those few days of the year where the price explodes to the upside. And remember statistically early adopters and hodlers make significantly more money than 99% of traders. I am super bullish on CEL token medium to long term we just need to mop up those last 97 million CEL tokens for cheap!