Celsius Moves Massive Ethereum Holdings to Exchange, ETH Price Down 4%

Celsius Moves Massive Ethereum Holdings to Exchange, ETH Price Down 4%

Bankrupt crypto lender Celsius Networks has been moving a very large number of its Ethereum holdings to exchanges in recent days. This unstaking of ETH and moving it to exchanges comes as part of its recovery plans amid the ongoing bankruptcy process.
Celsius Moves $35 Million Worth of Ethereum
In the latest insights from on-chain data provider LookonChain, the Celsius wallet has executed significant transactions in the past 10 hours. A deposit of 13,000 ETH, equivalent to $30.34 million, was made to Coinbase, while another transaction involved the deposit of 2,200 ETH, amounting to $5.13 million, to FalconX.
As of the latest data, two staking wallets associated with Celsius continue to hold a substantial amount of Ethereum (ETH). The combined holdings in these staking wallets total 557,081 ETH, valuing approximately $1.3 billion. These transactions and the significant Ethereum holdings in Celsius wallets add an interesting dimension to the ongoing movements and activities within the c

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