Asia-based Celer Network has witnessed a whopping surge of 400% in profits after traders embraced the latest version of its cross-chain cBridge solution. Hefty transaction costs that traders have to bear on the Ethereum network have always been a real trouble. The demand for layer-two scaling solutions skyrocketed instantly when decentralized finance (DeFi) started gaining ground in 2021.
When traders adopted cBridge 2.0 solution for mitigating high transaction fees, Celer experienced a major rise in the number of users. Towards the end of September 2021, the price of CELR touched a record high of 0.199 USD. The increase in the value of CELR can be ascribed to the launch of the 2.0 version of cBridge.
Expansion Of Celer’s Ecosystem
Boasting a market capitalization of $877 million, Celer has expanded its ecosystem, which is another major reason for the increasing gains. The multi-chain bridging solution offers support for up to 10 distinct protocols, including Polygon and Ethereum (ETH). What makes cBridge 2.0 different from its predecessor is the fact that it comes packed with developer-friendly features and offers a high level of liquidity.
Celer Network has made the cross-chain solution’s interface more intuitive than ever. The best part is that the functionality of cBridge 2.0 solution now extends to a larger range of chains and tokens.
Celer Network has insisted that the features incorporated in the latest version will be noticeable to node operators, validators and casual users alike.