In a move that will surprise the cryptocurrency community, Celsius Network has acquired a significant valuation of $40 million in Coinbase. Ethereum (ETH) deposited.
Celsius has a significant Ethereum reserve. This move is indicative of its ongoing efforts to meet its financial obligations and reach an agreement with creditors.
Posted by Lookonchain according to, Celsius wallet deposited 18,000 ETH ($40 million) to Coinbase just 12 hours ago. This follows a pattern of Ethereum deposits by Celsius totaling a staggering 280,760 ETH ($621 million) since November 13 across various platforms, including Coinbase, FalconX, and OKX.
the #Celsius wallet deposited 18K $ETH($40M) to #coinbase again 12 hours ago.#Celsius has deposited a total of $280,760 $ETH($621M) to #coinbase, #FalconXand #OKX since Nov 13.
NEWS CONTINUES BELOWoath #Celsius currently holds 540,029 $ETH($1.2B).https://t.co/3gGOucC9gY pic.twitter.com/cNxa0Wgd73
— Lookonchain (@lookonchain) January 24, 2024
NEWS CONTINUES BELOW
The total ETH assets of the bankrupt cryptocurrency company are at an impressive level of 540,029 ETH. This corresponds to a value of approximately 1.2 billion dollars.
Arkham Intelligence, another blockchain analysis provider, revealed that Celsius sold more than $125 million in Ethereum between January 8 and January 12. These sales are part of a strategic plan to meet outstanding debts and meet the requirements of ongoing bankruptcy proceedings.
Ethereum Price Movements
Koinfinans.com As we reported, the Altcoin is currently trading at $2,259. Additionally, it increased by 1.42% in the last 24 hours. However, the altcoin has experienced a decline of 11.33% over the last seven days. On the other hand, the transaction volume decreased by 1.81% in the last 24 hours and its total value was 14,257,423,116 dollars.
What analysts and investors are wondering about is how the price will react to this liquidation move.