The bankrupt crypto lender Celsius Network’s native CEL token suddenly spiked to US$4.26, during Ethereum’s much-anticipated Merge, according to data from CoinGecko.

See related article: Celsius CEO Alex Mashinsky floats restructuring as custody business amid bankruptcy proceedings

Fast facts

  • CEL’s price has since dropped to US$1.94, making it the 61st largest cryptocurrency by market capitalization, as of press time.
  • The cryptocurrency is still up 9.7% in the past 24 hours as part of its 43.9% weekly surge.

See related article: Crypto lender Celsius to return US$50 mln to locked out users