This article was last updated on February 18, 2022
Looking for the next innovative crypto project to invest in can sometimes be a drag. However, there are those like Celo, which are quite easy to identify. And once you recognize the value of such networks, the future becomes just a tad clearer. This is why we are going to be analyzing Celo and reviewing our price predictions for 2022, 2025, and 2030 with you.
Celo is one of the blockchain projects that stands out. Its main goal is to allow everyone to use their smartphone as a crypto payment medium. This happens through the utilization of decentralized finances (DeFi), which is the fastest growing sub-sector of the crypto industry. Just imagine how easy it would be if we could buy, sell, transfer crypto just by using our mobile device.
But before we get there, we will need to explore how Celo works, who the developers are, and the price history of the token. Doing so will give us a better understanding of what we can expect, and whether or not Celo is a reasonable investment. There are many factors that need to be taken into consideration before becoming an owner of a particular token.
By the time you go through the article, you will have a better understanding of the project. Aside from that, the information will be enough to allow you to make a calculated decision when it comes to investing in CELO. Without further ado, let’s head straight into it.
How To Buy CELO (Summary)
You can become an owner of CELO in 5 simple steps:
- Find a cryptocurrency exchange (CEX) platform that offers CELO.
- Create an account with the platform.
- Deposit funds to the platform.
- Choose amount of CELO and confirm transaction.
- (Optional) Transfer CELO to external crypto wallet.
If you want a more detailed guide on how to purchase CELO, check our dedicated sub-section below.
How Celo Works
Celo is an open-source platform and blockchain ecosystem with a focus to incentivize cryptocurrency adoption for smartphone users. It has simplified the process of transaction and ownership verification in a unique manner. In the case of Celo, your phone number will be the public key, which the team hopes to appeal to smartphone users and introduce them to the world of crypto. Additionally, entering a phone number instead of an address to make a crypto transaction is much easier.
The Celo network has its main, native cryptocurrency – CELO – but also has three stablecoins. It appears that the Celo team plans on adding even more stablecoins in the future. But currently, the available ones are CUSD (CELO Dollar), CEUR (CELO Euro), and CREAL (CELO Brazillian Real). Each is pegged to the respective fiat currency.
CELO is a proof-of-stake token, the platform uses mainly for fees, governance activities, and other service activities.
What is also important and should be noted is that the Celo network allows for smart contracts and decentralized applications (DApps) to be created/developed. Both of those are part of DeFi, which is so popular nowadays and will continue to be.
The project and its applications are mostly being tested right now, however, the cryptocurrencies are fully operational. We will be taking all of the following information into consideration through our price predictions for CELO for both 2025 and 2030.
If you’re new to crypto, we suggest you read our Ultimate Crypto Guide For Beginners.
Platform & Crypto Wallet
Although preferred, you will not need the Celo platform (Valora) in order to make crypto transactions. However, both you and the person receiving the CELO, CUSD, CEUR, or CREAL will need the Celo wallet downloaded. The Celo wallet currently only has a desktop app, while Valora is available for both Android and iOS.
Once you create a wallet, your mobile number will be linked to a crypto wallet address, after which a cryptographic hash of your number will be securely stored on the blockchain. It might sound a bit complex, but it actually is quite simple once you understand it.
What is interesting is that you will be able to associate more than one phone number with a Celo wallet. This is quite useful for times when you want to switch phone numbers, your contract expires, etc. You can add/remove a phone number with the click of a button in the Celo wallet app.
There are testnet versions of most Celo applications, where you can experience a simulation of each.
Transactions & Resource Consumption
Because you will be using your phone number as an address, this allows the developers to work on a blockchain using fewer resources. This is quite important because if you compare other blockchains, it is quite obvious that this will be a major issue in the near future, if not worked on, especially with the emissions we are seeing due to mainly Bitcoin mining.
Additionally, because of the crypto resource usage problems, the team has established the Climate Collective. According to the website, the Celo team states, “The Celo Reserve currently holds around $850M worth of assets. 40% of that would allow the protocol to buy and own $340M worth of existing and newly planted rainforest to back the Celo Dollar and Celo Euro stablecoins”.
EigenTrust – Measuring Your Reputation
Finally, we will be discussing the mechanism that measures your reputation – EigenTrust. It is a decentralized algorithm developed by Sep Kamvar, one of the founders of Celo, back in 2002 for Google. Previously, Google PageRank used EigenTrust as a key factor in deciding page ranks.
EigenTrust works similar to how a credit score measuring system works. It is partially your financial reputation on the Celo ecosystem. However, it is calculated through how many other accounts trust your account. This in itself will also depend on the reputation of these accounts is.
Brief History Of Celo
Celo was first launched back in 2017 by a team of professionals from many different fields. This includes people from companies and universities such as Google, Square, VISA, GoDaddy, MIT, Harvard, Cambridge, U.S. Department of Justice, Bank of America, Twitter, the Gates Foundation, and many others. You can check out some of the core members here.
Its mainnet launched later, in 2020 when the project saw mainstream interest. Of course, mainstream in 2020 didn’t mean what it means today, in the current state of crypto popularity.
The Celo Foundation is a non-profit organization, which launched alongside the mainnet in 2020. There are many entities that take care of different parts of Celo. Another important one is the Celo Alliance for Prosperity, which makes up what they describe as an“ecosystem of mission-aligned organizations.”
It is quite important to know the history of a company, as this will help you understand our price predictions for CELO for 2025 and 2030, and know what you are in for.
Price History & ATH
When exploring price predictions, it is quite important to look at the price history of a token, to get a better idea of what’s to come next. This includes seeing when the price dipped, when it reached its all-time high (ATH), and when it went sideways.
We will be exploring what CELO’s price was each year since the launch of the mainnet in 2020. After which we will finally go through our CELO price predictions for 2025 and 2030.
On the 23rd of May 2020, we saw the launch of CELO for the first time. Back then, its price was almost $2.50 but quickly dipped, as pre-launch supporters swiftly sold. The following 3 months the price went sideways at around $1.50. For a couple of days in September, the price peaked at around $4 but quickly stagnated back to $1.50 – $2 once again, until the end of the year.
During 2020, CELO did get some “mainstream” popularity, but not enough to boost the prices enormously, as the company had no stable product to offer yet. People definitely enjoyed the idea and roadmap of the company, but until 2021, when most of the apps launched, there was little to no utility.
As 2021 began, things changed drastically. The price was only going uphill until the end of May. During that time it reached a new price peak of more than $6. However, we all know what happened next – the crypto crash. The crypto crash in the middle of the year and the end of the year took many victims, but let’s see what happened during that time.
From June to late August, the price stagnated between $2 and $4. However, at the beginning of September, the bull run once again began. At that moment, on the 24th of September, the price of CELO reached an ATH of $7.63.
By the end of the year, the price was down to about $5.
In the first days of January, CELO’s price was still around $5. However, by the end of the month, we saw the mini crypto market crash, which lead to CELO losing about 40% in value and dipping down to $3. Since then, the price is moving sideways, not being too volatile.
As of the 17th of February, the price of CELO is just above $3.
CELO Price Prediction: 2022, 2025 & 2030
With the neverending attention the crypto world is bringing, the interest in the future price of tokens is quite high. More specifically, those who are new to the crypto world are looking at more well-known tokens with a higher market cap. On the other hand, we’ve got crypto enthusiasts who are looking for the next big thing.
CELO is currently placed within the top 80 cryptocurrencies by market cap, meaning it is somewhat popular. For this reason, we will be analyzing the price of CELO and base our price predictions for 2022, 2025, and 2030 off of that.
Of course, price predictions outside of 2022 are hardly reliable although interesting to explore. The reason why 2022 predictions are a bit easier is that we can somewhat see the market volatility and direction. However, even then we can be completely off the mark, so what’s left for 2025 and 2030.
With that being said, let’s get straight into the CELO price prediction analysis for 2022, 2025, and 2030.
Price Prediction For 2022
In our price prediction articles, we usually look at three specific scenarios: bull market, bear market, and sideways market. Through these, you will be getting a better idea of what to expect, depending on the current state of the crypto market. We will be taking past price movement into consideration when coming to our prediction conclusion.
Bull Market Scenario
If we are to see a stable bull market run by the end of the year, the price of CELO will naturally spike. Of course, we cannot expect to see a bull-only run, so we are focusing mainly on a specific time period where a bull market is present. During such times, prices of tokens usually grow by 2x and 5x. Of course, smaller market cap projects that are just getting started can even 10x and 20x.
According to that, we can see the price of CELO to go up to around $6-$10 if we are being realistic and $15 if we are being optimistic. In the case that CELO sees massive adoption, don’t be surprised if it goes up even more.
Bear Market Scenario
In the case that we see a bear market in 2022, there are many variables that can occur. This includes strict crypto regulations and straight-up bans, as well as problems that can occur within Celo as a company.
During past bull markets, we’ve seen tokens with a similar market cap to CELO drop down by 30-50% and sometimes even more. If that happens, we can see the price of CELO go to $1.50-$2.
Sideways Market Scenario
In the case that the crypto market relaxes and we experience mild volatility, we can expect the price to move around the $3 mark, +- $0.5.
However, sideways movements usually only last about 2-3 months, after which either a bull market or a bear market arrives.
Price Prediction For 2025
Things get more complicated the further we go into the future. By 2025, there will be many other factors aside from bull, bear, and sideways markets that will decide what an asset’s price will be.
Such aspects include supply and demand, competition, regulation, news, Web 3.0, global issues, politics, market cap, coin limit, etc. As such, the more we try to predict, the more inaccurate we will potentially be, keep that in mind.
When talking about 2025 and 2030, the bull, bear, and sideways markets have different meanings.
Bull Market Scenario
In this case, we will be looking at an overall bull market from 2022 to 2025. There obviously are going to be dips and crashes, but we will not base our prediction on that.
If the case is a bull market, we can expect to see the price of CELO rise by at least 10x. And, if they manage to follow their roadmap and see massive adoption, then this is quite a reasonable price. In conclusion, don’t be surprised if you see CELO reach $30.
Bear Market Scenario
If we see a dominant bear market in the upcoming years, then that could mean that cryptocurrencies are not getting the adoption we anticipated. In such cases, many tokens will lose all their value, until a massive change is seen.
As for CELO, although the utility of a mobile crypto exchange and wallet seem attractive, if cryptocurrencies themselves do not see adoption, the price can drop immensely. Usually, that will be within a 70-90% drop. If that happens, CELO will be priced at around $0.75 or less.
Sideways Market Scenario
If we see crypto regulations within what is acceptable, then we can see the market calming down. This is highly unlikely, but still an option. Whether or not it comes to fruition or not, only time will show.
In the sideways scenario, we can expect CELO to go for around a volatile price of +-20%, or during higher volatility +-30%. Through calculations, we see that this means anywhere between $2.20 and $3.60.
Interesting read: 10 Best Penny Crypto To Invest in Now
Price Prediction For 2030
And now for the toughest forecast, we come to the year 2030. It might seem impossible, but you can actually try and do a prediction based on the current price of a cryptocurrency.
However, if we look at past forecasts for the crypto market from 5-10 years ago, we will see that all of them are completely off the mark. Without further ado, let’s see what we’ve got.
Bull Market Scenario
If we see a general bull market in the next 8 years, the price of CELO will be going up, naturally. This means we will be seeing at least a 15x growth, although not much can be pinpointed. In this case, it is more accurate to say that the price will see a 10x-20x growth.
By taking the average in mind, instead of the worst and best-case scenarios, we see that CELO can rise up to $45 per token.
Bear Market Scenario
This is unlikely to happen, but if we see the adoption rate of crypto drop, we will see most cryptocurrencies lose at least 80% of their value. If we are being realistic in such a situation, then most cryptocurrencies will actually simply “disappear”.
If that happens, Celo will be going for only a couple of cents, or be completely dead. As you can see, this highly differentiates from our price prediction for CELO for 2022 and 2025, as 2030 is simply too far right now.
Sideways Market Scenario
Okay, now this one is interesting for a couple of reasons. First, a sideways scenario will mean that the crypto market will start mimicking the stock market. In such a scenario, we’d most likely already have regulations set in place. Additionally, because of this, maybe we will be seeing even more adoption.
However, a sideways market will probably have seen either big growth right beforehand, or a significant drop. For this reason, we can expect the price to first rise or drop, and then move in around a 30% price range. In that case, CELO will be moving in a bigger frame, which is anywhere between $5 and $15.
Is CELO A Reasonable Investment
As time goes by, an increasing number of people are to own smartphones, some of which will also dip their toes in the crypto industry. Let’s face it, both are quite the innovation, each for its time. For this reason, the Celo ecosystem is bound to see massive adoption if a couple of factors align.
First of all, the team behind the network will need to be more proactive with their marketing. This goes for almost every network, but because Celo is focused on a very specific niche, it is even more important. If people get to experience how easy it is to use your mobile device for crypto transaction purposes, they will share it by word of mouth, which will activate a chain reaction.
Another one, of course, is the lack of competitors focusing on the specifics that Celo is working on. Since there is no direct competition, if the network manages to promote itself correctly, people will not need to look for any similar platform.
And finally, luck. Luck is a crucial part of the current crypto market as it can make or break a network. If we take Dogecoin as an example, we can clearly see why. Although as a meme, Elon Musk, the richest person in the world, simply made a chain of tweets regarding Dogecoin, and the price went to the moon. All early adopters managed to make a fortune out of a couple of messages sent on a social media platform.
These are only a couple of factors that are quite important. With that being said, we will also explore whether or not CELO is a good investment in the short-term or the long-term, after which will state our final verdict.
In the case of the short-term, we are strictly speaking about the next couple of months up to the end of the year, so keep that in mind. If you went through our CELO price prediction for 2022, 2025, and 2030, you will have an easier time following the discussion.
When we consider the current situation of the crypto market (quite volatile since the beginning of 2022), it is quite unclear if we will be seeing any growth in the next couple of weeks/months. Of course, the ongoing eastern European political issues and the U.S. Fed reserve meeting, are definitely not helping with that.
These are just a couple of reasons why investing for short-term profits is difficult to reap right now. Unless you have experience day trading, placing limit orders, and can do technical analysis, this is probably not going to be an easy path.
It requires constant monitoring of token prices, which can be quite frustrating sometimes, but that’s the price of scalping the market for gains.
Unlike short-term investments, long-term investments for innovative projects such as Celo are probably a better idea. Although the price of Celo is low right now, some enthusiasts and those that believe in the network see it as a discount. Additionally, at the moment, most cryptocurrencies are seeing quite the dip, so it is nothing out of the ordinary.
However, when we are talking about long-term investments there are two things that come to mind. It is either profits or trust in the network’s utility and goals. Both of these boil down to belief. This is why most renowned investors only place their money into businesses that have something to offer; something of value.
If the team behind Celo continues to be as diligent and follows its roadmap, as well as keep adding new features, we don’t see a reason why it won’t succeed. It offers too much utility to the average crypto audience, that it is almost inevitable to see such networks getting adoption.
The Celo network has too much potential and utility that will help develop the smartphone crypto space, making it accessible for users from all over the world. This in itself means that unless a better competitor shows up to the scene, Celo is the one that will dominate this niche in the crypto market.
However, no matter what a network’s potential is, you should keep one thing in mind. That is to invest only in projects that you firmly believe in. Our hope with this article is to help you reach a conclusion, based on objective information and statistics.
How To Buy CELO (Detailed)
Time needed: 15 minutes.
In contrast to our summarized version of this section, we will e going into a bit more detail on how to buy CELO. You can look at these steps as a short guide to give you a general idea of how to become an owner of CELO:
- Find a crypto exchange platform.
First, you will need to choose a crypto exchange platform. Most importantly, choose a CEX that has CELO listed on it. Currently, the biggest platforms that offer CELO are Binance, eToro, Coinbase, Coinlist, OkCoin, and Bittrex. The easiest one to use on this list is definitely eToro, so we recommend it for beginners.
- Create an account.
Once you choose a CEX, you need to set up an account. Beware, because this can sometimes be a lengthy process, taking up to 5 business days because of the know-your-customer (KYC) procedure. It essentially is the way you prove your identity.
- Deposit funds.
Now you can add funds to your account. Doing this before you choose the moment to buy CELO will be helpful because it will greatly reduce the time it takes to make the fiat-to-crypto exchange.
- Choose the amount of CELO to buy.
Select the amount of CELO you wish to buy or the amount of fiat you wish to exchange for CELO. You will need to confirm the transaction, after which you will become a proud owner of CELO.
- (Optional) Transfer CELO to an external crypto wallet.
If you have an external crypto wallet, you can transfer your CELO to it, to further ensure the security of your asset.
The Celo network is inarguably a project of great potential and an intriguing future. Its current price is not a projection of what the utility provided is, nor the team’s hard work. This is why so many believe that the asset is on “discount”.
As time goes on, more and more people will be interested in the crypto industry. And what those people have in common is their smartphones. Celo’s found a great niche to pursue success in. This is because many will prefer an easy-to-use platform as an app, instead of a desktop application. You can definitely carry your phone around with you, everywhere, unlike desktops/laptops.
And with the increasing interest, many naturally think of what the price can be in the foreseeable future. This is completely normal, however, unlike the more stable markets, the crypto market is quite volatile. Because of this, a prediction today might be completely off the mark if the price goes up 20% in a day. This leads us to the point that these are only speculations, which cannot be taken to heart.
We will keep a close eye on Celo and keep you updated, in case of any major changes to the project.