{"id":494954,"date":"2022-07-05T17:00:52","date_gmt":"2022-07-05T17:00:52","guid":{"rendered":"https:\/\/wncen.com\/?p=494954"},"modified":"2024-06-11T12:58:40","modified_gmt":"2024-06-11T12:58:40","slug":"celsius-beats-down-liquidation-price-with-120-million-in-loan-repayments","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/celsius-beats-down-liquidation-price-with-120-million-in-loan-repayments\/","title":{"rendered":"Celsius Beats Down Liquidation Price With $120 Million In Loan Repayments"},"content":{"rendered":"

Celsius has been at the center of most crypto controversies in the last month. The lending platform had had to pause withdrawals, transfers, and swaps on its platform, citing extreme market conditions as the reason, but that was only the beginning of its troubles. However, Celsius looks to be taking it on the chin because contrary to what others have done, the platform has made moves to pay down its debts and has now beaten down its liquidation price by more than 200%.<\/p>\n

Celsius Pays $120 Million In Loans<\/h2>\n

The beginning of the week came with good news for the Celsius lending platform which had been able to put more money towards its loans. Previously, the company had added 7,000 BTC that had brought its liquidation price down to $16,582 but remained at risk given the volatile nature of bitcoin. That is why the company has continued to add to its position to beat down the liquidation price to save the platform.<\/p>\n

Related Reading |\u00a0Mounting Support For Bitcoin At $19,000 As Market Ushers In A New Week<\/a><\/strong><\/em><\/p>\n

Over the weekend, it was reported that Celsius had padded up its position once more, and in a series of repayments since July 1st, the lending platform has paid a cumulative $142.8 million. The latest of these payments had been the most prominent with the platform paying $64 million in DAI stablecoin towards its loans. This payment had come hours after another significant repayment of $50 million in DAI stablecoins.<\/p>\n

As it stands, Celsius has managed to beat its liquidation price down to $4,967, a more comfortable point for the lending protocol and its users who are still hoping to get back their coins that are now stuck on the platform. Celsius\u2019s outstanding loans now sit at $82 million with an overcollaterization ratio above 577%.<\/p>\n

\"Celsius<\/p>\n

CEL token trading at $0.89 | Source: CELUSD on TradingView.com<\/a><\/pre>\n
Will Users Get Their Coins Back?<\/h2>\n
Celsius is yet to address users on if they will be getting their funds which are stuck on the platform back. There is a good portion of the market that has considered these coins lost, but with Celsius\u2019 multiple loan repayments, it continues to spark hope in the hearts of investors that they would be able to one day withdraw assets again.<\/p>\n
Related Reading |\u00a0Active Ethereum Addresses Touch 2020 Levels, Will Price Follow?<\/a><\/strong><\/em><\/p>\n
Users have reported that the lending protocol has continued to pay rewards on their holdings despite not being able to withdraw. Its native token, CEL, had seen a significant run-up after suffering a terrible loss following the announcement of blocked withdrawals.\u00a0<\/span><\/p>\n
Its last communique with the public had been through a Medium post<\/a> where the platform announced that it continues to work towards stabilizing liquidity and restoring operations. The blog post did not contain information about when it will be restoring withdrawal options. However, it did state that it continues \u201cto take important steps to preserve and protect assets and explore options available to us.\u201d<\/p>\n
Featured image from Reuters, chart from TradingView.com<\/pre>\n
Follow <\/i><\/b>Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
Celsius has been at the center of most crypto controversies in the last month. The lending platform had had to pause withdrawals, transfers, and swaps on its platform, citing extreme market conditions as the reason, but that was only the beginning of its troubles. However, Celsius looks to be taking it on the chin because contrary to what others have done, the platform has made moves to pay down its debts and has now beaten down its liquidation price by more than 200%. Celsius Pays $120 Million In Loans The beginning of the week came with good news for the Celsius lending platform which had been able to put more money towards its loans. Previously, the company had added 7,000 BTC that had brought its liquidation price down to $16,582 but remained at risk given the volatile nature of bitcoin. That is why the company has continued to add to its position to beat down the liquidation price to save the platform. Related Reading |\u00a0Mounting Support For Bitcoin At $19,000 As Market Ushers In A New Week Over the weekend, it was reported that Celsius had padded up its position once more, and in a series of repayments since July 1st, the lending platform has paid a cumulative $142.8 million. The latest of these payments had been the most prominent with the platform paying $64 million in DAI stablecoin towards its loans. This payment had come hours after another significant repayment of $50 million in DAI stablecoins. As it stands, Celsius has managed to beat its liquidation price down to $4,967, a more comfortable point for the lending protocol and its users who are still hoping to get back their coins that are now stuck on the platform. Celsius\u2019s outstanding loans now sit at $82 million with an overcollaterization ratio above 577%. CEL token trading at $0.89 | Source: CELUSD on TradingView.com Will Users Get Their Coins Back? Celsius is yet to address users on if they will be getting their funds which are stuck on the platform back. There is a good portion of the market that has considered these coins lost, but with Celsius\u2019 multiple loan repayments, it continues to spark hope in the hearts of investors that they would be able to one day withdraw assets again. Related Reading |\u00a0Active Ethereum Addresses Touch 2020 Levels, Will Price Follow? Users have reported that the lending protocol has continued to pay rewards on their holdings despite not being able to withdraw. Its native token, CEL, had seen a significant run-up after suffering a terrible loss following the announcement of blocked withdrawals.\u00a0 Its last communique with the public had been through a Medium post where the platform announced that it continues to work towards stabilizing liquidity and restoring operations. The blog post did not contain information about when it will be restoring withdrawal options. However, it did state that it continues \u201cto take important steps to preserve and protect assets and explore options available to us.\u201d Featured image from Reuters, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":494956,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83386,3],"tags":[623,83722,86313,86315,86312,86314],"class_list":["post-494954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-news","tag-bitcoin-loans","tag-celsius","tag-celsius-bitcoin-loans","tag-celsius-liquidation-price","tag-celsius-loan","tag-liquidation-price"],"acf":[],"yoast_head":"\nCelsius Beats Down Liquidation Price With $120 Million In Loan Repayments<\/title>\n<meta name=\"description\" content=\"Celsius has been at the center of most crypto controversies in the last month. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Celsius Beats Down Liquidation Price With $120 Million In Loan Repayments","url":"http:\/\/wncen.com\/news\/celsius-beats-down-liquidation-price-with-120-million-in-loan-repayments\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/celsius-beats-down-liquidation-price-with-120-million-in-loan-repayments\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Celsius-scaled.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Celsius-scaled.jpeg?fit=2560%2C1599"},"articleSection":"Crypto","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin loans","celsius","celsius bitcoin loans","celsius liquidation price","celsius loan","liquidation price"],"dateCreated":"2022-07-05T17:00:52Z","datePublished":"2022-07-05T17:00:52Z","dateModified":"2024-06-11T12:58:40Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Celsius Beats Down Liquidation Price With $120 Million In Loan Repayments\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/celsius-beats-down-liquidation-price-with-120-million-in-loan-repayments\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/celsius-beats-down-liquidation-price-with-120-million-in-loan-repayments\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/Celsius-scaled.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/Celsius-scaled.jpeg?fit=2560%2C1599\"},\"articleSection\":\"Crypto\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin loans\",\"celsius\",\"celsius bitcoin loans\",\"celsius liquidation price\",\"celsius loan\",\"liquidation price\"],\"dateCreated\":\"2022-07-05T17:00:52Z\",\"datePublished\":\"2022-07-05T17:00:52Z\",\"dateModified\":\"2024-06-11T12:58:40Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Celsius-scaled.jpeg?fit=2560%2C1599","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/494954"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=494954"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/494954\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/494956"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=494954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=494954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=494954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}