{"id":383539,"date":"2023-12-20T14:45:36","date_gmt":"2023-12-20T14:45:36","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=383539"},"modified":"2023-12-20T14:38:05","modified_gmt":"2023-12-20T14:38:05","slug":"celsius-sold-off-250-million-in-eth-and-other-assets-in-30-days","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/celsius-sold-off-250-million-in-eth-and-other-assets-in-30-days\/","title":{"rendered":"Celsius sold off $250 million in ETH and other assets in 30 days"},"content":{"rendered":"<p>Bankrupt cryptocurrency lender <a href=\"https:\/\/cryptoslate.com\/companies\/celsius-network\/\">Celsius<\/a> has sold off<span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\">\u00a0$250 million worth of digital assets, including <a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">Ethereum<\/a>, in the last 30 days, according to on-chain data.<\/span><\/p>\n<p>Crypto sleuth <span class=\"s5\">Apes_Prologue reported that Ether accounted for $243 million, or 97%, of the bankrupt firm's selling activities during the period.<\/span><\/p>\n<p>Separately, blockchain analytical firm Peckshield <a href=\"https:\/\/twitter.com\/peckshieldalert\/status\/1737301015874138470?s=46&t=aw6ZR-6aD050XLPVXY8AQA\">confirmed<\/a> that the defunct lender <span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\">transferred over 10,000 units of <\/span><span class=\"r-18u37iz\">ETH, <\/span><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\">worth approximately $24 million, to cryptocurrency exchange Coinbase and cryptocurrency brokerage platform FalconX during the last 24 hours.<\/span><\/p>\n<p>Meanwhile, <span class=\"s5\">Apes_Prologue added that Celsius also dumped over $3 million in stablecoins, $1.3 million of Chainlink's <a href=\"https:\/\/cryptoslate.com\/coins\/chainlink\/\">LINK<\/a>, and $1.4 million of Pax Gold. Other assets the firm sold include around $150,000 of <a href=\"https:\/\/cryptoslate.com\/coins\/polygon\/\">Polygon's MATIC<\/a> and <a href=\"https:\/\/cryptoslate.com\/coins\/avalanche\/\">Avalanche's AVAX<\/a> tokens, respectively.<\/span><\/p>\n<h2><span class=\"s6\"><span class=\"bumpedFont15\">Why is Celsius selling?<\/span><\/span><\/h2>\n<p><span class=\"s4\">Jef Breed, the founder of venture capital firm Breed VC,\u00a0 <\/span><a href=\"https:\/\/twitter.com\/jedbreed\/status\/1737311679795400788?s=46&t=aw6ZR-6aD050XLPVXY8AQA\"><span class=\"s5\">explained<\/span><\/a><span class=\"s4\"> that Celsius might be dumping its ETH bag to capitalize MiningCo, a Bitcoin mining company that would be owned by creditors of the failed firm.<\/span><\/p>\n<p>Breed suggested that Fahreint (NewCo), the leading bidder in Celsius' initial bankruptcy auction, <a href=\"https:\/\/cryptoslate.com\/celsius-debtors-to-restructure-defunct-lender-into-bitcoin-miner-instead-of-asset-transfer\/\">encountered regulatory obstacle<\/a>s in executing its plans for Bitcoin mining and Ethereum staking services. Consequently, the bankrupt company shifted its focus to a mining venture overseen by MiningCo.<\/p>\n<p>As a result, Breed inferred that the firm had to liquidate a portion of its ETH holdings to secure $250 million in fiat capital, a different approach from the initial plan <a href=\"https:\/\/cryptoslate.com\/celsius-lawyer-says-revival-plans-include-450m-in-seed-funding\/\">requiring $450 million<\/a> in liquid cryptocurrency for Fahreint's proposed strategy.<\/p>\n<p><span style=\"color: #333333; font-size: 22px; font-weight: bold;\">What next for ETH price?<\/span><\/p>\n<p>Observers believe that Celsius's selling activity might have inhibited ETH's price from soaring recently.<\/p>\n<p>Data from <em>CryptoSlate<\/em> shows that ETH's price has considerably struggled against other large-cap cryptocurrencies, such as <a href=\"https:\/\/cryptoslate.com\/coins\/solana\/\">Solana<\/a>, <a href=\"https:\/\/cryptoslate.com\/coins\/cardano\/\">Cardano<\/a>, and <a href=\"https:\/\/cryptoslate.com\/coins\/avalanche\/\">Avalanche<\/a>, whose values have <a href=\"https:\/\/cryptoslate.com\/solana-sol-token-value-grows-by-more-than-330-ytd-to-14-month-high\/\">rapidly risen<\/a> during the last 30 days.<\/p>\n<p>For context, SOL's price increased by around 20% during the last seven days, while ETH is up by only 2% during the same period.<\/p>\n<p>However, market analysts suggest that &#8220;the selling pressure may be complete and ETH could rip up over the coming months with the spot ETH ETF narrative on the horizon.&#8221; ETH is trading for $2230 as of press time.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bankrupt cryptocurrency lender Celsius has sold off\u00a0$250 million worth of digital assets, including Ethereum, in the last 30 days, according to on-chain data. Crypto sleuth Apes_Prologue reported that Ether accounted for $243 million, or 97%, of the bankrupt firm&#8217;s selling activities during the period. Separately, blockchain analytical firm Peckshield confirmed that the defunct lender transferred [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":383550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77901],"tags":[77137,76128,72190],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Celsius sold off $250 million in ETH and other assets in 30 days<\/title>\n<meta name=\"description\" content=\"Bankrupt Celsius has reportedly dumped around $250 million worth of cryptocurrencies, including Ethereum, during the last 30 days.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/celsius-sold-off-250-million-in-eth-and-other-assets-in-30-days\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Celsius sold off $250 million in ETH and other assets in 30 days\" \/>\n<meta property=\"og:description\" content=\"Bankrupt Celsius has reportedly dumped around $250 million worth of cryptocurrencies, including Ethereum, during the last 30 days.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/celsius-sold-off-250-million-in-eth-and-other-assets-in-30-days\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-20T14:45:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-20T14:38:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/12\/ethereum-sell.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/celsius-sold-off-250-million-in-eth-and-other-assets-in-30-days\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/celsius-sold-off-250-million-in-eth-and-other-assets-in-30-days\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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