The popular crypto lending platform, Celsius Network, has gotten more than $1billion worth of cryptocurrency deposits, according to recent reports. For your information, Celsius Network is one of the fiercest competitors of Nexo (the most popular crypto lending platform at the moment). And fortunately for Celsius Network, they have achieved a huge milestone, which is the amount of money deposited in their ecosystem.
The company also mentioned that it had paid over $17 million in rewards for the crypto lenders inside the Celsius Network. Not only that, but Celsius Network also made a claim that they are the first profitable company in the crypto lending space. This announcement is like a wake-up call for other similar crypto lending companies which are still struggling to make a profit from their business.
