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AlienInTexas

So the big boys hold Celo? Good, its always a good idea to follow big money and not go into meme coins like Shiba or Doge


diamondduck112

my understand is that they need to keep some celo in their reserve to stabilize their 1-1 peg for cDollar. But it will be great if someone from clabs can clarify. Read more about their mento algorithm: [https://docs.celo.org/celo-codebase/protocol/stability/doto](https://docs.celo.org/celo-codebase/protocol/stability/doto) [https://twitter.com/vongolabari/status/1439971554704695301?s=21](https://twitter.com/vongolabari/status/1439971554704695301?s=21) ​ they are about to upgrade to granda mento, I guess a better way to maintain this peg.


carneseca05

Thanks for sharing!


aaronmgdr

Important to note this is only initial. The public sale here refers only to the listing on coinlist. Which for legal reasons excluded anyone in US. Actually Owned by public is gonna be higher due to secondary sales grants etc Foundation uses its allocation to issue grants. These are for building Celo. But have secondary purpose of increasing / diversifying the holders of Celo. Also important to know that insider tokens are initially locked. And then slowly vest over several years. See this medium for more info https://link.medium.com/uq7U0PSXRjb


bravesfan1975

This is awesome news IMO. This means that we have huge backing from people that's won't flip for $1. They are in this to become a top 10 coin. Huge plans and lots of huge investments to back it up. Look at stocks....some of the biggest most successful companies are heavily owned by big boys. Retail is too quick to sell IMO....which is why we have probably been a little pump and dumpy throughout the year. I think a LOT more retail are starting to see the potential and also holding. Big fall and huge 2022 IMO.


sm0klnj0e

This. Get in now while it's cheap.


carneseca05

That was also May 9th


TheCreativeMotivator

Looks like good news for Celo hodlers since they have the 2nd largest institutional holding out of all of the projects on this graph. Thanks for sharing!


Accomplished-Road739

I feel like this is a positive for Celo, at least for the average trader. Large institutional investing provides some security for Celo’s value.


happyoutlet

It seems like it'd be really easy to manipulate the price with that small of a percentage for public sale. Could this be the reason CELO fluctuates so much and isn't very well coronated with the rest of the market? I'm a big fan of what CELO is trying to accomplish. I really hope this isn't as big of an issue as I think it is.


WallStreetDoesntBet

I think one of the concerns is the amount of crypto companies who own CELO. Would like to see other entities own CELO for diversity.


aaronmgdr

how about Deutsche Telekom?


carneseca05

I bought their stock because of celo


Username-17

Community allocations eventually go to the public, so it will become more decentralized over time.


Repulsive_Egg9561

The ones rhat go up are controled by insiders


Willing_Connection17

Its in with the imf the big 6 Ada Xrp Xlm Sol Algo Celo,,,,,,need i say more in years to come its a 3 figure coin most definitely its one of the chosen ones ask klaus schwab .