Celo’s Epic Journey: From Layer-1 to Ethereum’s Cozy Embrace!

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Ah, Celo! Born in the spring of 2020, a tender sapling in the vast forest of blockchain, it has finally found its way to the illustrious Ethereum, becoming a layer-2 network after a rather arduous journey. One might say it has been a tale of perseverance, akin to a weary traveler who, after many trials, finally finds a warm hearth to rest his weary bones.

🏡 @Ethereum, we’re home! Following a successful “hard hard fork” led by the diligent souls at @cLabs and the noble L1 validators, Celo is officially an Ethereum Layer 2 🪨 🪨 🍴 What does that mean for the diverse, global decentralized ecosystem? Keep reading to find out ↓

— Celo.eth 🦇 🌳 (@Celo) March 26, 2025

It was a long two years since Celo first proposed this grand migration in July 2023. In April 2024, the wise minds at cLabs, the architects of Celo, decided to embrace Optimism’s OP Stack, an open-source framework that promised to elevate their humble abode to new heights.

And lo, they did it! With the grace of a ballet dancer, Celo began its transition, halting its L1 block production as if to say, “Hold your horses, we’re moving up in the world!” At precisely 04:10 UTC, cLabs triumphantly declared that “block production has officially resumed on Celo L2,” a proclamation that echoed through the digital valleys.

✅ Block production has officially resumed on Celo L2. Next up: Public RPC (Forno) and indexers coming online — stay tuned.

— cLabs | ⋐•𝕃 (@cLabs) March 26, 2025

As Celo ascended, its ecosystem blossomed, boasting over 1,000 projects across more than 150 countries. According to the latest whispers on the X platform, the network now hosts around 11 million active addresses and has processed a staggering 720 million transactions in its nearly five-year odyssey. Quite the achievement, wouldn’t you agree?

Thanks to the benevolent OP Stack framework, the new Celo L2 has slashed its block times from a leisurely 5 seconds to a brisk 1 second. It now basks in the security of Ethereum while enjoying the swiftness of Optimism. A match made in blockchain heaven!

Celo now embraces Ethereum-native cross-chain bridging, allowing users to traverse the digital landscape with ease. And fear not, for one can use various tokens like USDT and USDC to cover those pesky gas fees. What a time to be alive! 🎉

Celo Rising

In the wake of this monumental transition, Celo (CELO), the native token of this newly minted blockchain, has experienced a delightful price surge. Up 4.1% in the past 24 hours, it now trades at a modest $0.404. Its market cap flirts with the $230 million mark, with a daily trading volume of $18.6 million. Not too shabby for a token that once danced at the heights of $10.66 back in August 2021, only to tumble down by a staggering 96.2%. Ah, the fickle nature of fortune!

Despite its recent triumphs, Celo finds itself ranked as the 183rd-largest digital currency. A humble position, yet one filled with potential for further ascension. After all, every great story begins with a single step, or in this case, a single block!

 

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2025-03-26 13:03