On August 17th, the bankrupt cryptocurrency lending company Celsius Network sent $24 million worth of Altcoins to OKX, Binance, and FalconX.
The assets transferred by Celsius to the cryptocurrency brokerage firm FalconX include:
- $8.46 million worth of LINK
- $7.71 million worth of SNX
- $3.06 million worth of BNB
- $2.1 million worth of 1INCH
- $1.87 million worth of ZRX
- $718,000 worth of FTT.
The assets transferred by Celsius to the exchange OKX include $235,000 worth of BOND.
The assets transferred by Celsius to the exchange Binance include:
- $2.3 million worth of UNI
- $1.4 million worth of MANA
- $486,000 worth of AVAX
- $313,000 worth of SUSHI
- $39,000 worth of ALPHA
- $39,000 worth of CVX
- $30,000 worth of ANT, and so on.
Celsius is likely starting to sell its Altcoin holdings to convert them into BTC and ETH in order to repay its creditors, following a recent court approval.
After recent token transfers, Celsius still holds $183 million worth of Altcoins, including CEL, MATIC, AVAX, and others.
On June 10th, blockchain analytics firm Kaiko warned that Celsius might face difficulties in liquidating some Altcoins due to liquidity issues. The company highlighted that the liquidity of CEL is almost non-existent and liquidating other assets could put pressure on the cryptocurrency market.