Celo Blockchain Gains Traction as Mobile Payments Network
The Celo (CELO) blockchain has been gaining traction as a mobile-focused Ethereum Layer-2 network, aiming to simplify crypto payments globally. With over 250,000 daily active users and more than 1,000 projects building on the network, investors are eyeing potential long-term recovery for CELO.
As of now, CELO is trading near $0.0764, down about 83% from its previous highs. However, a proposed buyback-and-burn plan could use 50% of Layer-2 profits to buy and permanently remove CELO from circulation, potentially reducing selling pressure and supporting a target of $0.168 in 2026.
Celo's move toward Ethereum Layer-2 scaling is also expected to improve network performance and increase token demand. The planned Jovian and Espresso integration could make transactions faster by improving confirmation times, helping Celo handle everyday payments more efficiently.