Celsius Continues To Pay Off Debt, Bringing The Asset’s Liquidation Price To $2,722/BTC

According to oasis, Nansen’s address marked as Celsius repaid 34.43m DAI debt to MakerDAO at 5:38 PM UTC on July 5th.

Celsius Presidential Debt Repayment

As has been updated in previous Coincu News articles, in recent days, the loan order on Maker has been significantly repaid, with $120 million in debt alone being paid on July 4. The loan order is still collateralized with 23,962 WBTC as before (worth $482 million), while the borrowed asset is reduced to only 82 million DAI. With the above move, Celsius’s new liquidation price dropped, bringing the WBTC collateral liquidation price from $13,600 to just $4,967.

Updated to July 6, the lending platform has continued to pay an additional $41 million in DAI debt on Maker, bringing the liquidation price of WBTC as collateral for the remaining 41 million DAI loan order to $2,722/BTC.

Thus, since the beginning of July until now, Celsius has paid more than 183 million USD of debt to vault Maker.

In addition, Celsius withdrew 2,000 WBTC of collateral, worth about $40 million, to its own wallet.

However, the money used by Celsius to repay the debt is still unclear where it came from, as well as if there is money, why are they still not opening deposits/withdrawals for users? Although liquidation positions have been reduced, users’ funds are still stuck in the platform.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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