Celsius Freezes All Withdrawals, Transfers - Top Crypto Updates

Celsius crashes 70% in 1 hour after firm halts withdrawals

Controversial crypto lender Celsius announced it was pausing all customer withdrawals, swaps, and transfers on Sunday night. "We are taking this necessary action for the benefit of our entire community in order to stabilize liquidity and operations while we take steps to preserve and protect assets," the company said in a statement.

The company's CEL token crashed 70% in one hour after the announcement.

Crypto prices today: Bitcoin falls 7.7%, ETH down 8.5%

Bitcoin is currently trading at $25,324.91, a decline of 7.72% over the previous day. Ethereum fell 8.57% over the last 24 hours to $1,330.21. Solana crashed 11.78% to $28.3, while Cardano is trading lower by 8,73% at $0.464. Avalanche (AVAX) plumetted 12.1% to $16.18. The global crypto market cap stands at $1.02 trillion, a 6.93% decline over the previous day.

Crypto investors have resorted to a massive sell-off amid fears of high inflation.

Helium to launch new tokens to scale 5G in multi-network expansion

The Helium Network has announced a model expansion to address the demand for unlimited wireless protocols. It will launch new MOBILE and IOT tokens as it expands its crypto-powered wireless network. The token-incentivized network may also expand to include additional decentralized protocols.

Helium rewards crypto to users for deploying hotspots and providing network coverage. It has launched over 848,000 hotspots in 176 countries. 

Accepting crypto payments a priority for majority of US retailers: Deloitte

A survey by Deloitte found over 85% of U.S. merchants prioritize enabling crypto payments, while ~83% do the same for stablecoins. Around 87% of merchants believe accepting crypto payments can provide a competitive edge in the market. Most retailers expect a significant increase in interest in using digital currencies for payments. Nearly 75% of them aim to enable crypto and stablecoin payments over the next two years.