Ethereum

<ul><li>Celsius Network transfers substantial Ethereum amounts to exchanges like Coinbase and FalconX, totaling over $35 million.</li><li>The company liquidated over $125 million in Ethereum to meet creditor demands, while maintaining a significant reserve of over 557,000 ETH.</li><li>Celsius&#39;s Ethereum transactions contribute to a 4% drop in Ethereum&#39;s value, raising concerns about market stability.</li></ul>Celsius Network, amidst its ongoing <a href="https://cryptotale.org/celsius-creditors-take-issue-with-investors-buying-cheap-bankruptcy-claims/" rel="noopener noreferrer nofollow">bankruptcy proceedings</a>, has been actively transferring substantial amounts of Ethereum to various exchanges. This strategy is seen as a significant part of the cryptocurrency lending platform&#39;s efforts to navigate its <a href="https://cryptotale.org/celsius-network-requests-bankruptcy-court-approval-to-subpoena-ftx/" rel="noopener noreferrer nofollow">financial challenges</a>.LookonChain, an on-chain analytics platform, reported that within the past 10 hours, Celsius deposited 13,000 ETH, valued at $30.34 million, into Coinbase and moved an additional 2,200 ETH, amounting to $5.13 million, to FalconX. These transactions have garnered attention in the digital currency community for their magnitude and strategic timing.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/694f21a9233f4510be6dcde71fd24f02.png" />Meanwhile, Arkham Intelligence <a href="https://platform.arkhamintelligence.com/explorer/entity/celsius-network" rel="noopener noreferrer nofollow">reported</a> that from January 8 to January 12, Celsius liquidated over $125 million in Ethereum. This activity aims to fulfill creditor demands and meet financial obligations amidst the bankruptcy. Additionally, Dune Analytics <a href="https://x.com/tomwanhh/status/1746919554184339581?s&#61;20" rel="noopener noreferrer nofollow">observed</a> a significant increase in Ethereum redemptions, totaling over $1.6 billion, marking the highest level since last year&#39;s Shanghai update.Read full article at <a href="https://cryptotale.org/celsius-network-shifts-ethereum-assets-amid-bankruptcy-stirs-crypto-market/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Celsius Network Shifts Ethereum Assets Amid Bankruptcy, Stirs Crypto Market

CryptoTale

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