Celsius, a cryptocurrency lending platform once valued at $3 billion, successfully reorganized after bankruptcy. Starting on April 30, Celsius Network carried out token destruction operations, destroying 94% of its CEL tokens.

After this transaction, the remaining supply of CEL was reduced to about 40.6 million. This token sending transaction came from a wallet controlled by Celsius, confirming that the sending address did belong to Celsius.

Celsius pointed out that only the tokens held in hand could be destroyed, and emphasized that it was impossible to "cancel" all CEL token transactions or stop exchange transactions. Therefore, after the news came out, starting on April 30, CEL ushered in an astonishing increase of #CEL