The CEL token’s value has decreased by 54% in only one hour on the Celsius Network.
Celsius moved around 3,500 WBTC ($89 million) to FTX over the previous hour, while approximately 50,000 ETH was moved to FTX by Celsius three hours ago.
In the past three days, Celsius has sent about 104,000 ETH to FTX. This includes the 50,000 ETH that was sent today, the 12,000 ETH that was sent yesterday, and the 42,000 ETH that was sent the day before. Also, Celsius sold about 9,500 WBTC as well.
Celsius has issued an email to all of its Users – will no longer be executing withdrawals, swaps, or account transfers between clients because of today’s extraordinary market circumstances.
Celsius had sold stETH in an effort to restore user withdrawal liquidity, this might have resulted to liquidations.
While, this could be the reason behind today’s Bitcoin Dump as Celsius Sold Bitcoin and ethereum to restore Liquidity.
Read Here – Here’s Why Celsius Halted Withdrawals
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