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Cryptocurrency lending platform Celsius&#39;s recent approval to begin selling or converting part of its crypto holdings, effective July 1, has led to concerns of a possible market sell-off, according to the <a href="https://research.kaiko.com/insights/celsius-liquidations-could-pressure-altcoin-markets" rel="noopener noreferrer nofollow">research</a> firm Kaiko on Monday. The firm warned that Celsius&#39;s liquidation could place &#34;significant&#34; pressure on the crypto market, particularly if the bankrupt lender decides to sell or convert its reserved assets into Bitcoin (BTC) and Ether (ETH).As of June 30, Celsius <a href="https://www.cnbc.com/2021/08/13/poly-network-hack-nearly-all-of-600-million-in-crypto-returned.html" rel="noopener noreferrer nofollow">held</a> over $600 million in crypto assets, with its largest positions being roughly $300 million in BTC and $117 million in ETH. The impact could be significant despite these numbers representing only a fraction of the daily trading volume for the top pair of crypto assets.Kaiko forecasted the remaining assets, amounting to approximately $180 million, are spread across smaller capitalization coins, including $100 million in its native token, CEL. This situation poses a problem, as realizing such a value is nearly impossible due to the lack of market liquidity for the token, which has already seen an 83% decrease since the company&#39;s bankruptcy,Read full article at <a href="https://cryptotale.org/celsius-liquidations-may-stress-crypto-market-warns-kaiko/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Celsius Liquidations May Stress Crypto Market, Warns Kaiko

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