Celer Network (CELR) is currently experiencing a market pump amid an overall crypto crash. In a week in which several assets have bled with significant losses, CELR has restored investor confidence, gaining 10.8% in the last seven days.

According to more data from Coingecko, CELR has gained 26.3% in the past two weeks, representing a much better market performance than market giants Bitcoin (BTC) and Ethereum (ETH) over the same period. .

However, it must be said that CELR is way off its market price this time last year, down a staggering 44.4% from its year-to-date value.

That being said, much of CELR’s price growth over the past week has been driven by a series of project announcements, generating excitement among the user community and increasing traction on the network.

At press time, CELR is trading around $0.0264, having risen 3.2% in the last 24 hours. According to more data from Coingecko, the ERC-20 token has a daily trading volume of $60.67 million and a total market capitalization of $149.65 million.

CELR trading at $0.026 | Source: CELRUSD chart from Tradingview.com

Celer announces expansion of zkSync coverage

For most investors, it comes as no surprise that Celer has managed to stay afloat during this crypto storm, as the blockchain network has seen several exciting developments in recent weeks.

On April 19, Red Celer Announced expanding its support for the zkSync Network. According to Celer’s Twitter post, users can now use cBridge, the network’s multi-layer multi-chain asset bridge, to bridge ETH and USDC between the zkSync Era network and over 10 other blockchains, including Ethereum, BNB Chain, Avalanche, Polygon, etc.

The zkSync project is a layer two scaling solution designed to scale operations on the Ethereum network using zero knowledge (zk) technology. It is currently one of the most exciting and emerging technologies in the crypto space following the launch of its Alpha Mainnet last month.

Other developments in the Celer network

In addition to expanding its zkSync coverage, Celer Network is also sleepless its collaboration with Polygon as one of the initial release partners for the project’s zkEVM upgrade.

The developer team stated that cBridge would provide support for bridging ETH between Polygon zkEVM and other networks, including Ethereum, Fantom, Optimism, Arbitrum, BNB Chain, Avalanche, and Polygon Mainnet.

Meanwhile, BitGo, one of the hottest names in the crypto space, is also Announced support CELR this week. BitGo is a leading digital asset security and custody company with more than 1,500 institutional clients in 50 countries, including major cryptocurrency exchanges, trading platforms, regulated entities, etc.

Featured Image: Celer Network, TradingView chart

This post Celer Network (CELR) soars 11% amid general downtrend Celer Network (CELR) soars 10% amid general downtrend.

was published first on https://www.newsbtc.com/altcoin/celer-network-celr-soars-11-amidst-general-bearish-trend/


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