Close Menu
    X (Twitter)
    Blockchain Journal
    • News
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • NFT
      • DeFi News
      • Polkadot News
      • Chainlink News
      • Ripple News
      • Cardano News
      • EOS News
      • Litecoin News
      • Monero News
      • Stellar News
      • Tron News
      • Press Releases
      • Opinion
      • Sponsored
    • Price Analisys
    • Learn Crypto
    • Contact
    • bandera
    Facebook X (Twitter) Instagram
    Blockchain Journal
    Home » Celsius’ Bitcoin Liquidation Price Below $5K as Company Repays $120 Million in Debt

    Celsius’ Bitcoin Liquidation Price Below $5K as Company Repays $120 Million in Debt

    0
    By hassan on July 5, 2022 Bitcoin News, Companies, Cryptocurrencies, News
    Celsius’ Bitcoin Liquidation Price Below $5K as Company Repays $120 Million in Debt
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Celsius Network has made several loan repayments to lower the threshold at which it will be forcibly liquidated. The firm’s loan payback was spotted on vault #25977 on DefiExplore. According to DeFi Explore, the company began making a string of repayments starting June 14. The latest payment made yesterday happened to be the biggest payout since that period (64 million DAI) since June 14.

    Maker received about $120 million in the past few days alone from Celsius. At the same time, crypto researcher Plan C indicated that the firm paid a combined $67 million debt to Aave and Compound on July 2. Vault now has more than $82million in outstanding debt. Its collateral ratio has also increased to 577.81 percent, which means less exposure to its lenders.

    The liquidation price drops as Celsius settles the debt.

    With the latest payment of 64 million DAI, Celsius has reduced its liquidation price to just $4,967. On June 13, the day the firm stopped withdrawals, its liquidation price was dangerously close to the price range of BTC.

    Celsius’ efforts to help her case have borne fruit, considering the firm reported hiring restructuring attorneys and working with regulators.

    This month, in addition to its loan repayments – amounting to $142.8 million – Celsius also cut 150 personnel in its workforce.

    Community and CEL React

    While its latest actions offset the risk of insolvency, the community wonders whether they mean the firm will reopen withdrawals. The biggest question in the room has been where the company is getting funds to reimburse its lenders. Recall that investors showed no interest in bailing out the company.

    Celsius’ Bitcoin Liquidation Price Below $5K as Company Repays $120 Million in Debt.

    The latest repayments have been well-received, as is further evidenced in the price of the firm’s native cryptocurrency – CEL, up over 17% in the past 24 hours alone.

    Celsius is paying off its debts

    Crypto lending platform, Celsius, has repaid a substantial amount of its outstanding debt to Maker (MKR) protocol since the start of July, signaling that the platform is doing all it can to stave off a complete collapse amid credible rumors of insolvency.

    Since July 1, Celsius has repaid $142.8 million worth of Dai (DAI) stablecoins, a stablecoin pegged to the U.S. Dollar, across four separate transactions, according to data from DeFi Explorer. The crypto lender still has $82 million in outstanding debt owed to Maker. Out of $1.8 billion in lifetime investments, the firm’s losses currently stand at $667.2 million, down approximately 63%.

    With the loan repayments, Celsius’ liquidation price on its Bitcoin loan has dropped to $4,966.99 per Bitcoin (BTC). The liquidation price reportedly fell by nearly half since Celsius posted a $64 million DAI payment on July 4, hours after reports that the platform had paid $50 million in DAI.

    Bitcoin blockchain BTC Business celsius DAI Featured Investment Network stablecoins Work
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    hassan
    • LinkedIn

    Related Posts

    ARK Invest Unloads Coinbase and GBTC Shares by Millions Amid Market Boom

    December 6, 20232 Mins Read

    GBTC Discount Shrinks as Bitcoin Price Surges

    December 6, 20232 Mins Read

    IBM Introduces OSO, Designed for Cold Storage of Digital Assets

    December 6, 20232 Mins Read

    Marathon Digital Produced 1,187 Bitcoins in November and Held 14,025 Unrestricted BTC

    December 5, 20232 Mins Read

    Volume Counterfeiting Allegations Rock RATS Token on Gate Exchange

    December 5, 20232 Mins Read

    Ethereum Whale Wakes Up and Transfers $90 Million to Kraken

    December 5, 20232 Mins Read

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 Blockchain Journal

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.