Celsius Transferred 125 Million USD ETH to the Exchange

Many investors are concerned about Celsius' pressure to sell ETH, as they recently transferred a large amount of ETH to exchanges with an amount of 125M USD

According to data from Arkham, the cryptocurrency lending company Celsius, which recently filed for bankruptcy, has transferred 125 million USD worth of Ethereum (ETH) to Coinbase and FalconX exchanges, indicating a likely intention to sell in the market.

This is the second series of Ethereum sales by Celsius recorded in recent months. As reported by AZC.News, in December 2023, the company sold up to $243 million worth of ETH along with some other altcoins.

At the beginning of January 2024, Celsius announced its intention to start unstaking Ethereum to prepare for asset liquidation and repay debts to customers. Blockchain data indicates that the company has been staking nearly $800 million worth of Ethereum.