Celsius Sets New Standard: $1 Billion In ETH Staked As Deposits Show No Sign Of Slowing
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Celsius, a popular lending platform, has made significant moves in staking Ethereum (ETH) as they stake almost $1 billion worth of the cryptocurrency. According to the Blockchain intelligence company Arkham Intel, In the past 24 hours alone, Celsius has staked over $600 million worth of ETH, with no signs of slowing down. This represents a massive on-chain flow, and the rate of deposits continues to increase. Celsius Goes All-In On ETH Celsiu’s address was the largest withdrawer when Lido (LDO) opened withdrawals in mid-May, withdrawing over 400,000 ETH, worth $800 million. They held this ETH in the ‘Unstaking’ wallet for
Celsius Networks, currently undergoing bankruptcy proceedings, has engaged in significant Ethereum transactions that are causing ripples within the digital currency landscape. In the past 10 hours, on-chain analysts at LookonChain detected noteworthy transfers, including a 13,000 ETH deposit ($30 million) on Coinbase and an additional 2,200 ETH ($5 million) on…
Institutions such as Alameda Research and Celsius Network are depositing their Ethereum (ETH) to Coinbase. Meanwhile, the ETH supply on centralized exchanges has been increasing. Ethereum has been an underperformer compared to Bitcoin or Solana during the recent bull rally. Meanwhile, the increased supply on centralized exchanges might further hinder…
Bankrupt crypto lender Celsius Network has begun the process of swapping altcoins for Bitcoin (BTC) and Ethereum (ETH). The recent court approval (June 30) granted the company permission to convert its altcoin holdings into the two leading digital assets, raising concerns about a potential sell-off of popular altcoins. Celsius Network,…