Rug Pull Alert: List Of Altcoins Celsius Network Will Sell On July 1st

Crypto Rug Pull News: The global digital asset market registered a broad recovery on Friday after witnessing a heavy dump on the past day. As the market fights from the increasing selling pressure, defunct crypto lender Celsius Network has decided to sell all of the customers’ altcoins under its new reorganization plan.

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Celsius Set To Perform A Rug Pull?

As per announcement, Celsius Network will be selling all alltoins excluding custody and withhold account holding from July 1, 2023. It mentioned that the amount recovered from the sale will be converted into Bitcoin (BTC) and Ethereum (ETH).

Reports suggest that Celsius network is holding around $215 million worth of altcoins which might be dumped from July 1. As per the list, the crypto lender holds $70.5 million worth of 6.6 million Celsius tokens (CEL). CEL is trading at an average price of $0.1054, at the press time.

The 2nd biggest altcoin held by Celsuis turned out to be Polygon (MATIC). It holds around $51.8 million worth of MATIC tokens. The token has already suffered a decline of more than 25% over the past 7 days. MATIC is trading at an average price of $0.57, at the press time with a market cap of around $5.3 billion. Read More Crypto News Here…

The next major token that can come under the selling pressure is suggested to be Cardano (ADA). Details depict that Celsius owns around $26.2 million worth of 1.03 million ADA tokens. However, Cardano is on a decline after being called a Security in a US SEC lawsuit. Its price dropped by over 17% in the last 24 hours. ADA is trading at an average price of $0.25, at the press time at a market cap of more than $9 billion.

The other big altcoins held by the bankrupt crypto lender are Chainlink (LINK), Litecoin (LTC), Polkadot (DOT), Bitcoin Cash (BCH), Aave (AAVE), BNB and more.