Crypto Lender Celsius’s Token Falls 20% as Terra Concerns Linger

Celsius Network Ltd.’s digital token slumped about 20% on Friday as concern increases over the sustainability of the high yields being offered by the lending platform and others in the crypto market in the wake of the collapse of the Terra blockchain.

Celsius’s CEL token promises “actual financial rewards,” including as much as 30% extra returns weekly, according to its website. CEL was trading at around 53 cents, down 21% in the past 24 hours, according to pricing data site CoinGecko.