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CELSIUS LOAN REPAYMENT: LIQUIDATION PRICE DROPS SIGNIFICANTLY!

 


Celsius loan repayments are piling up

Nansen's address, denoted as Celsius , currently has 21,962.63 Wrapped Bitcoin (wBTC) in collateral and $41.23 million in DAI debt positions.


This repayment is the second in the last 24 hours and Celsius' liquidation price has fallen to $2,722.11 from over $5,000 yesterday.


The liquidation price indicates the point at which a borrower must inject money to improve their loan-to-value ratio (LTV). If not, the DeFi lender will liquidate some of the loan collateral to bring the account back to minimum value.


Celsius loan repayments

​Statistics from DeFi Explore clarify

Although the crypto lender has not officially confirmed these payments, DeFi Explore stats show that Tresor #25977, allegedly owned by Celsius Network, sent loan repayments. A series of repayments began on June 14, with the most recent payment of $34 million from DAI just hours ago at the time of writing.


According to the discoverer, $120 million was traded yesterday in units of $6.2 million, $64 million and $50 million DAI.

Wrapped Bitcoin (wBTC) as collateral

Celsius used Wrapped Bitcoin (wBTC) as collateral to borrow hundreds of millions of dollars from MakerDAO. Maker allows the dollar-pegged stablecoin DAI to be mined when cryptocurrencies are offered as collateral.


On June 13, Celsius halted withdrawals, trading, and swaps for its customers to make room for the platform to restore liquidity. Paying off this debt reduced the risk of liquidating the loan position with Maker. Decentralized finance protocols can automatically liquidate traders' collateralised assets if they are unable to repay their loans.


Conclusion

For Bitcoin & Co., this message is to be taken positively. A risk in the market seems off the table for now. However, it should be pointed out again that this report is not an official one from Celsius, but was only researched. We assume that this is correct, but have no final certainty for this. 

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