- Mashinsky’s wallet traded 17,475 CEL tokens for $28,242 in ether (ETH).
- The CEO had more tokens than the next four holders combined.
Crypto intelligence outfits Nansen and Arkham Intelligence have identified a $CEL address associated with Celsius CEO Alex Mashinsky that has liquidated part of its assets for the first time since the troubled lender Celsius ceased withdrawals and then filed for bankruptcy protection. As of late May and early June, Mashinsky seems to have taken advantage of the CEL community-driven short squeeze, which saw the token price climb to around $2 from a prior $0.15.
Blockchain data explorer and analytics platform Etherscan reports that between Saturday and Tuesday, Mashinsky’s wallet traded 17,475 CEL tokens for $28,242 in ether (ETH) on the decentralized market UniSwap.
Biggest Individual CEL Holder
The public listing on Celsius’ homepage previously showed Mashinsky as one of the biggest individual CEL holders after the treasury. The CEO had more tokens than the next four holders combined. According to Nansen’s portfolio tracker, the wallet that carried out the most recent transactions had around $1.1 million in CEL tokens and a little amount of ETH and USDC.
An effort to resurrect Celsius’ network token CEL has been initiated on the social media site Twitter by a group of traders two months after the token’s last high of $8 was roughly 70% lower.
Short-selling at GameStop (GME) is claimed to be a model for this strategy. They’re purchasing CEL tokens on FTX and then transferring the digital currency to their own wallets before placing a sell order at an exorbitant price to put pressure on short sellers. According to CMC, the Celsius price today is $2.22 USD with a 24-hour trading volume of $25,086,244 USD. Celsius is up 20.65% in the last 24 hours.
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