Dogecoin ($DOGE) holders can now receive interest on their investments through famous cryptocurrency lender Celsius. DOGE holders can receive up to 0.5 percent APY in kind, according to an announcement.
According to Celsius’ release, DOGE holders can earn interest in the platform’s native CEL currency if they so desire. If eligible customers with Platinum level on the platform choose to do so, rewards can increase to 0.63 percent.
According to the company’s help website, having platinum status on Celsius means that customers have at least 25% of their portfolios in CEL tokens. It’s worth mentioning that earned awards in CEL aren’t available in the US, according to the support website.
Dogecoin’s popularity has risen in recent weeks, after Tesla CEO Elon Musk’s – a well-known DOGE fan – appeal for McDonald’s to accept payments in the meme-inspired cryptocurrency, claiming he would eat a Happy Meal on TV if the fast-food giant accepted DOGE.
Dogecoin co-creator Billy Markus backed Musk’s push, but McDonald’s responded by sarcastically saying Tesla would have to take “grimacecoin” first, causing the prices of many bogus grimacecoins to skyrocket.
rival fast-food restaurant chain MrBeast Burger, an American delivery-only fast-food company started by online sensation Jimmy Donaldson (AKA MrBeast), has tweeted at Elon Musk, suggesting that if it receives a retweet, it will “work on” taking DOGE.
Celsius Network is a well-known bitcoin lender that was formed in 2017. Its CEO, Alex Mashinsky, has previously forecast that the price of bitcoin will skyrocket to $160,000.