Celsius disrupts quiet day for altcoin prices

Image of coin and graph.
FLOW showed some brightness on a generally quiet day for altcoin prices on Thursday.

The beleaguered Celsius Network coin interrupted a quiet day for altcoin prices on Thursday.

CEL saw more volatility as it soared during the last hour before the close of conventional North American markets. The cryptocurrency finished up 13% and remained above $3. (All figures are based on CoinMarketCap data.)

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Second consecutive double-digit win

CEL posted a double-digit gain for the second consecutive day after falling 23% and 16% on Monday and Tuesday, respectively.

CEL has come to know volatility well, experiencing sharp rises and falls since the Celsius network collapsedand other crypto lender digital traveler and hedge fund operator Capital of the three arrows collapsed

All three companies filed for bankruptcy after being hit by the collapses of the original luna coin and the related terraUSD stablecoin.

But, as was the case in the first three days of this week, CEL was an outlier relative to the rest of the market.

Investors in a holding pattern

Most altcoin prices had another quiet day as investors largely remained in a holding pattern.

Until CEL stole the show, profits and losses were modest.

The unannounced coins FLOW, gnosis (GNO) and cosmos (ATOM) showed some shine as they surged between 2% and 3.5%. They led the pack until CEL skyrocketed.


Mostly modest declines

Overall, the market was down slightly.

Coins in red greatly outnumbered those in green; however, there were few losses of more than 5%, and all declines were in the single digits.

The Huobi exchange token (HT), which spiked last week, took the hardest hit as it fell around 8%.

Shiba Inu (SHIB), named after Tesla founder Elon Musk’s dog breed, was among the biggest losers with a 7% decline.

Dogecoin (DOGE), which has gone up and down at times according to Musk’s views on the matter, fell around 4%.

Market leaders stay the course

Bitcoin (BTC) and ether market leaders (ETH), the main currency of the Ethereum blockchain, they stayed the course as they remained in their respective $23,000 and $1,800 price ranges.

Ether continued a recent trend of outperforming Bitcoin as both coins rose slightly on the day.

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