-->
Celsius

To Liquidation The Celsius , BTC have to be 5k

Celsius Network repaid $120 million to Maker, reducing the liquidation price of its DAI loan to below $5,000.

Celsius Network has made several loan repayments to reduce the threshold at which it would be forcibly liquidated.

The loan paybacks have been witnessed on vault #25977, which is said to belong to the firm. According to DeFi Explore, the company began making a string of repayments starting June 14. The latest, which is also the biggest payment (64 million DAI) since that period, happened just yesterday.

After all bad things , everything looking good for Celsius team

Celsius Settles Loans, Liquidation Price Drops

Market

When they stopped the withdraw and deposit , that day almost they liquid , after all these now liquid price is below 5k

RELATED : OpenSea Co-Founder Steps Down to Focus on New Projects

Celsius’s efforts to help its case seem to have yielded fruit, considering the firm hired restructuring lawyers and reported working with regulators.

Community and CEL React

While its latest actions offset the risk of insolvency, the community wonders whether they mean the firm will reopen withdrawals. The biggest question in the room has been where the company is getting funds to reimburse its lenders. Recall that investors showed no interest in bailing out the company.

The latest repayments have been well-received as is further evidenced in the price of the firm’s native cryptocurrency – CEL, up over 17% in the past 24 hours alone.

About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

Check Also

bitcoin

EU MPs Attack Amazon’s Participation in Digital Euro Project

A cross-party coalition of members of the European Parliament on Tuesday came under fire at …

Leave a Reply

Your email address will not be published.