Celsius’s Impact On The DeFi Industry

In a 20-page report published on July 8, Arkham said Celsius is one of the largest units involved in investing in DeFi.

The degree of Celsius influence on major DeFi projects on Ethereum is as follows, according to data as of June 21, 2022 – 8 days after blocking user withdrawals:

On Aave:

Collateral: 32% stETH, 17% WBTC, 6% ETH, 35% LINK, 78% SNX, 70% xSUSHI – 12% of total collateral on Aave.

Borrowed: 37% USDC, 30% DAI, 12% REN – 17% of all stablecoins borrowed on Aave.

On Compound:

Supply: 43% WBTC, 13% ETH – 11% of total collateral on Compound.

Borrowed: 57% DAI – 20% of all stablecoins borrowed on Compound

On Maker:

Supply: 38% WBTC – 6% of total collateral on Maker.

Borrowed: 59% DAI – 3% of all stablecoins borrowed on Maker.

ETH2 staking:

2.5% of total ETH staking, holding 20% ​​of stETH circulating supply.

Combined, Celsius’s money into Aave, Maker, and Compound accounts for 9% of the total TVL of these three protocols.

The reason Celsius is in trouble now

  • Loss of money from opportunity costs when investing in DeFi
  • Changes in deposit assets of customers
  • DeFi projects they invested in were hacked, resulting in loss of money
  • Being liquidated assets
  • Spend money blowing the price of CEL tokens
  • Being “logged down” by other organizations

Although Celsius has fully repaid the $224 million stablecoin loan on Maker as of July 7, Celsius is currently facing a lot of negative accusations.

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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Celsius’s Impact On The DeFi Industry

In a 20-page report published on July 8, Arkham said Celsius is one of the largest units involved in investing in DeFi.

The degree of Celsius influence on major DeFi projects on Ethereum is as follows, according to data as of June 21, 2022 – 8 days after blocking user withdrawals:

On Aave:

Collateral: 32% stETH, 17% WBTC, 6% ETH, 35% LINK, 78% SNX, 70% xSUSHI – 12% of total collateral on Aave.

Borrowed: 37% USDC, 30% DAI, 12% REN – 17% of all stablecoins borrowed on Aave.

On Compound:

Supply: 43% WBTC, 13% ETH – 11% of total collateral on Compound.

Borrowed: 57% DAI – 20% of all stablecoins borrowed on Compound

On Maker:

Supply: 38% WBTC – 6% of total collateral on Maker.

Borrowed: 59% DAI – 3% of all stablecoins borrowed on Maker.

ETH2 staking:

2.5% of total ETH staking, holding 20% ​​of stETH circulating supply.

Combined, Celsius’s money into Aave, Maker, and Compound accounts for 9% of the total TVL of these three protocols.

The reason Celsius is in trouble now

  • Loss of money from opportunity costs when investing in DeFi
  • Changes in deposit assets of customers
  • DeFi projects they invested in were hacked, resulting in loss of money
  • Being liquidated assets
  • Spend money blowing the price of CEL tokens
  • Being “logged down” by other organizations

Although Celsius has fully repaid the $224 million stablecoin loan on Maker as of July 7, Celsius is currently facing a lot of negative accusations.

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.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

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