Crypto Catch: Celsius seeks more time to stabilise liquidity issues

Be the First to Comment Read

Crypto Catch: Celsius seeks more time to stabilise liquidity issues

Crypto news, Celsius, Celsius news
Image source: © Grafner | Megapixl.com

Highlights

  • Troubled crypto lending firm Celsius has sought more time from its customers after last week’s withdrawal freeze, to stabilise liquidity issues
  • Bitcoin gained around 4% to once again trade above the US$20K mark and was recently trading at US$20,600.

Troubled crypto lending firm Celsius has asked its customers to give it more time to stabilise liquidity and operations after the recent market crash caused the firm to halt withdrawals for its customers.

In the past two weeks, the cryptocurrency market has lost billions of dollars, with Bitcoin falling below the US$20K mark over the weekend for the first time since December 2020.

On Monday, Celsius asked its customers for more time after extreme market conditions forced Celsius to freeze withdrawals for its users last week.

In a blogpost released on Monday, Celsius spokesperson said that they want to stabilise their liquidity, which is a process that takes time.

Moving forward to market news, Bitcoin gained around 4% to once again trade above the US$20K mark and was recently trading at US$20,600.

Meanwhile, Ethereum gained 4.5% overnight and was recently trading at US$1,130.

Also Read: Enzyme crypto’s trading volume up 1,000%: Why is MLN token gaining?

Winners and Losers

 winners and losers in cryptocurrency trading 

 Image Source @ 2022 Kalkine Media® 

Data Source: CoinMarketCap.com, based on top 100 cryptos. 

Note: Growth from the 24 hours prior to 12:30pm AEDT 

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website. 

Disclaimer

Speak your Mind

Featured Articles