Celo Euro (Wormhole Ethereum)
cEUR is an algorithmic stablecoin that tracks the Euro and is native to the Celo blockchain's Reserve system. The Celo Reserve is a system of smart contracts that uses a portfolio of cryptocurrencies to expand and contract the supply of cEUR. cEUR is backed in part by Celo's native asset CELO, along with other digital assets, including BTC, ETH, and other stablecoins.
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- Asset Type: ERC-20
- Market Cap: $6.8M
- Fully Diluted Valluation: $12.4M
- FDV / MC: 1.8
- Ranking inside Exponential (among stables): #40
- Circulating Supply: 6,040,807
- Total Supply: 11,005,846
- Volume (24H): $905.6K
- ATH: $19.98 (10/31/2022)
- ATL: $0.24 (01/08/2024)
cEUR is a low-cap asset with questionable collateral reserves. This asset is exposed to the underlying risks of Portal (Wormhole) bridge, a protocol rated as Watch out.
cEUR is a stablecoin that often trades more than 100bps off its peg to EUR, making it a highly volatile store of value.
cEUR has an uncapped supply but has inflation control or burn mechanisms in place. cEUR is exposed to death spiral risk as its price depends on another asset, thus creating negative feedback loops.