On Tuesday, Celsius Network successfully reclaimed a large amount of the collateral that was locked in its DeFi Aave financial app.
And as of the evening of July 12, 2022, Celsius had unlocked over 400,000 coins. stETH (about $417 million) from Aave, a crypto-lending protocol. which had previously supported the money At present, the assets have been transferred tobag addressThe same used for transactions with Aave.
All of this is on-chain data gathered from wallets believed to be owned by Aave. In this case, the wallet in question is marked by Ethereum block explorer Etherscan as “Celsius Network: Wallet 11”, followed by 24. Items caused by the company
After facing the financial impact of a decline in the crypto market, Celsius has reduced the number of positions on its DeFi platform amid the growing trend.reportthat it is preparing for potential bankruptcy filings in the future
In addition to removing stETH from Aave, Celsius repaid a $63.5 million in USDC loan to Aave in three transactions, reducing Aave’s debt to approximately $8.4 million.
Celsius previously moved by withdrawing $6,083 of wrapped Bitcoin from Aave on Monday. Additionally, last week it unlocked more than $440 million worth of wrapped Bitcoin from MakerDAO.
Celsius’s largest DeFi position currently consists of a 10,000 Bitcoin (~$200 million) margin deposit on Compound based on on-chain data.