Celsius added $1 billion in new digital assets every month
In an announcement, the company said its holdings increased from $1 billion in June 2020 to $20.3 billion on Aug. 13. The company conducted an internal audit using technology from analytics firm Chainalysis and concluded that it was adding about $1 billion in new digital assets every month.The CEO of Celsius Alex Mashinsky says the platform has grown so much because of "low-cost lending and the high interest yield on 43 cryptocurrencies." The Celsius website shows that the platform currently has more than 962,000 users. The platform's goal is to attract 100 million people to cryptocurrency.
$30 billion in digital assets in 2025?
Despite DeFi's continued growth, as evidenced by cases like Celsius, a recent Chainalysis report shows that DeFi adoption is still very much in the early stages compared to the broader crypto industry.In March, a study by Alpha Sigma Capital, a Celsius investor, suggested that the platform would reach $30 billion in assets under management by the end of 2025.
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