Celsius transfers Matic, Link and other old coins worth $ 59 million for exchange

Celsius Network moved millions of altcoins on Monday, including polygon (Matic) chainlink (link) and Aave (aave).

As reported in June, the US insolvency court recently approved Celsius to continue with the plans, to liquidate several coins and tokens from July 1, 2023.

The crypto loan had announced that they to convert them into Bitcoin (BTC) and Ether (Eth), as part of the preparation for the reimbursement of customers who were affected by the insolvency application of the crypto company in July 2022.

Celsius shifts polygon, chainlink and aave token to Falconx

According to the crypto security platform Arkham Intelligence, Celsius has deposited various tokens worth $ 59.4 million in the institutional crypto trading platform Falconx. According to the Arkham data, Celsius Matic, worth $ 13.6 million, transferred, link worth $ 10.7 million and AAVE worth $ 7.3 million to an address controlled by Falconx.

The data nerd shared details of the transmissions with:

45 minutes ago, @celsiusnetwork began by inserting to the exchange Sell.

So far you have sent the following:
• 1.2 million $ (8.5 million usd) /> • 2.8 million $ Snx (7.8 million USD)
Rel = "Nofollow Noopener" Target = "_ Blank" href = "https://twitter.com/search?q=%24BNB&src=ctag&ref_src=twsrc%5etfw"> $ BNB (3 million USD)
and more

You still have $ 65 million of alternative means (without). $ btc , $ eth , $ CEL and Stablecoin) Pro @arkhamintel . pic.twitter.com/cy53z

-The data-nerd (@onchaindatand) 17. July 2023

The transactions followed earlier transfers with a link worth $ 8.5 million, SNX (a native synthetic token) worth $ 7.8 million and BNB token worth $ 3 million. Other tokens sent to the Falconx Wallet address are 0x Protocol (ZRX), 1inch (1inch) FTX TOKEN (FTT) and Tether Gold (Xaut).

also blockchain detective Lookonchain that Falconx had started to be obtained on Binance - which indicates that the sale was underway.

The data from dune analytics will be transferred shows The Celsius portfolio still contains over 106 million US-Dollar Tokens CEL, $ 47 million on other old coins (including $ 16.5 million in Matic and $ 12.7 million in AAVE) and over $ 29 million of stable coins ($ 24 million in USDC and $ 2 million in USDT).

While Celsius drives plans to convert the old coins into BTC or ETH, the blockchain company Kaiko recently implemented its plans noted that the Celsius team could be difficult for the Celsius team to liquidate a number of tokens. One of them is CEL, whose liquidity is almost zero.

elsewhere, analysts from Kaiko say that the potential sales pressure could influence the downward pressure on some of the tokens through the liquidations.