Celcius bank run very likely, ETH expected to decline further

It has been pointed out that the possibility of a bank run for Celcius is very high.

On the 15th, the Corbit Research Center published a report ‘Extra Report on stETH Defegging and ETH Price Drop’ and said, “It is necessary to pay close attention to Celcius.”

The report said, “Ethereum is trading at $1,360 (as of 14:26 on the 13th), down 72% from $4812 on November 11 last year, so there is a possibility of a chain liquidation and further decline. If it starts, it is likely to negatively affect the price of the Ethereum network in the short term.”

In addition, “Ethereum price may be affected in the short term during the de-leveraging process, but the fundamental value of the Ethereum network or Ethereum 2.0 itself is not damaged.” It appears to be a factor in the depreciation of Ethereum, especially stETH.”

“All risk assets are being adjusted as the Fed’s tightening monetary policy is expected to continue,” he said. predicted that

“One of the differences between the 2018 and 2019 bear markets and this one is the activation of DeFi. “, he added.

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Reporter Hanna Yang Bloomingbit [email protected]

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