Why Celsius Crashed 98.83% from ATH? | #btc #web3 #crypto #defi
Celsius Network - A Liquidity Crisis:
The CEL | Celsius token is affiliated with the lending platform Celsius Network.
A liquidity crisis at cryptocurrency lending firm Celsius may cause a broader contagion that could bring down other major players in the market.
Celsius Network halted withdrawals and transfers, amid an apparent liquidity crisis, as the price of Bitcoin plunged to pre-pandemic levels.
Celsius promises high-yield returns on customer deposits, appears to be the latest crypto company to buckle under tightening financial conditions - One month after the collapse of the Terra-Luna stablecoin network.
CEO Alex Mashinsky said: "This is a difficult moment; your patience and support mean the world to us."
" One user who responded to Maskinsky's post had a simple message:
Don't let me down.
Henry wrote:
"I had 45 ETH which I was saving for my new house. I'm crying and praying to God that I will be able to get that money out. It took four years and me working 100 hours every week to save. Can't sleep."
My heart goes to everyone who are current denied access to their crypto assets on Celsius Network.
Analysis:
The Celsius cryptocurrency has lost Celsius 98.83% from ATH of its value amid a major collapse that has wiped billion of dollars from the crypto market.
Caution:
Celsius token is currently high risk!
Noteworthy:
Do not forget the historical wise saying, "Never invest more than you can afford to lose."
Not a financial advise, I suggest using this only as a guide - Do your own research.
If you have any questions, kindly write in comments below - I will answer them.
Kindly support this idea with your like and comment, thank you.
The CEL | Celsius token is affiliated with the lending platform Celsius Network.
A liquidity crisis at cryptocurrency lending firm Celsius may cause a broader contagion that could bring down other major players in the market.
Celsius Network halted withdrawals and transfers, amid an apparent liquidity crisis, as the price of Bitcoin plunged to pre-pandemic levels.
Celsius promises high-yield returns on customer deposits, appears to be the latest crypto company to buckle under tightening financial conditions - One month after the collapse of the Terra-Luna stablecoin network.
CEO Alex Mashinsky said: "This is a difficult moment; your patience and support mean the world to us."
" One user who responded to Maskinsky's post had a simple message:
Don't let me down.
Henry wrote:
"I had 45 ETH which I was saving for my new house. I'm crying and praying to God that I will be able to get that money out. It took four years and me working 100 hours every week to save. Can't sleep."
My heart goes to everyone who are current denied access to their crypto assets on Celsius Network.
Analysis:
The Celsius cryptocurrency has lost Celsius 98.83% from ATH of its value amid a major collapse that has wiped billion of dollars from the crypto market.
Caution:
Celsius token is currently high risk!
Noteworthy:
Do not forget the historical wise saying, "Never invest more than you can afford to lose."
Not a financial advise, I suggest using this only as a guide - Do your own research.
If you have any questions, kindly write in comments below - I will answer them.
Kindly support this idea with your like and comment, thank you.