fbpx
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Saturday, April 1, 2023
Online Crypto College
CREATE FREE ACCOUNT
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
No Result
View All Result
Online Crypto College
No Result
View All Result

Celsius Faces Liquidity Crisis, but how are Other Crypto Firms Faring? – Blockchain News, Opinion, TV and Jobs

June 14, 2022
in Blockchain
Reading Time: 3 mins read
A A
Celsius Faces Liquidity Crisis, but how are Other Crypto Firms Faring? – Blockchain News, Opinion, TV and Jobs
ShareShareShareShareShare

By Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock

Related articles

Avalanche Launches Avaissance to Boost NFT Ecosystem

Avalanche Launches Avaissance to Boost NFT Ecosystem

April 1, 2023
FTX EU Launches Website for Customer Withdrawal Requests

FTX EU Launches Website for Customer Withdrawal Requests

April 1, 2023

Global markets took a catastrophic hit yesterday, as the Nasdaq was down 4.60% and the S&P 500 was down 3.88%. Crypto suffered the most, as Bitcoin dropped over 20% to reach a low of $20,800. Ever since the crypto rally in November, in response to Bitcoin ETF Futures product being launched, crypto has been on a ruthless downtrend with little sign of relief. Bitcoin has correlated with the Nasdaq very tightly this year, and actually performed better up until May. When UST and LUNA collapsed last month, which had a combined value of around $100 billion, this commenced a downward spiral which exacerbated cryptos decline against the Nasdaq.

The market remains justifiably fearful of the potential impacts of Celsius becoming insolvent, whilst still having billions of assets under management. The decline in their assets under management has been remarkable, falling from $28 billion in November to around $3 billion today.

I think Celsius’s liquidity issues raises serious concerns about high yields on many lending platforms, and crypto critics will feel more confident in their views around the legitimacy of DeFi. I agree that people should be cautious with lending firms offering lucrative yields of double-digits on assets like Bitcoin and Ethereum. People should consider the risks involved like smart contract exploits, lenders becoming insolvent and whether the protocol has been stress tested. We are still in the early phase of crypto, where many DeFi products are being tested and selectivity will result in many failing along the way.

We are seeing impacts across the board of centralised lenders, as BlockFi is also facing problems too. They announced in a blog post today that it is letting go of 170-200 employees, which is 20% of the lender’s total staff headcount.

This follows a string of established crypto companies decreasing employee numbers, because of the ongoing chaos happening in this market downturn. Crypto.com CEO, Kris Marszalek, said on Friday that the company is laying off around 260 employees.

However, unfortunate events with lenders like Celsius and other crypto firms will not prevent savvy investors from investing directly into mainstream cryptocurrencies. The intrinsic value of borderless, permissionless and blockchain-native assets will continue to thrive in the long term.


Credit: Source link

ShareTweetSendPinShare
Previous Post

Dogecoin: Is there more to DOGE’s 18% pump?

Next Post

Whale buys 356 billion Shiba Inu tokens; Are all HODLings still intact?

Related Posts

Avalanche Launches Avaissance to Boost NFT Ecosystem

Avalanche Launches Avaissance to Boost NFT Ecosystem

April 1, 2023

The Avalanche Foundation has launched Avaissance, an initiative aimed at supporting digital artists and boosting the growth of the Avalanche...

FTX EU Launches Website for Customer Withdrawal Requests

FTX EU Launches Website for Customer Withdrawal Requests

April 1, 2023

FTX EU, the European arm of the global trading platform, has launched a website to allow European customers to submit...

BRICS Alliance Considers Creating New Currency

BRICS Alliance Considers Creating New Currency

March 31, 2023

The world's economic powerhouses appear to be distancing themselves from US dollar hegemony as they look to create a new...

ANZ Bank Pushes Customers Towards Digital, Faces Criticism

ANZ Bank Pushes Customers Towards Digital, Faces Criticism

March 31, 2023

ANZ Bank, one of the "Big Four" banks in Australia, recently announced that it will no longer facilitate withdrawals and...

Renewed Optimism in Crypto Market Raises Concerns About Regulatory Challenges Ahead – Blockchain News, Opinion, TV and Jobs

Renewed Optimism in Crypto Market Raises Concerns About Regulatory Challenges Ahead – Blockchain News, Opinion, TV and Jobs

March 31, 2023

The cryptocurrency market has had a strong start to the year, with Bitcoin (BTC) up 71% and Ethereum (ETH) up...

Load More
Next Post
Whale buys 356 billion Shiba Inu tokens; Are all HODLings still intact?

Whale buys 356 billion Shiba Inu tokens; Are all HODLings still intact?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Bittrex Shuts Down US Crypto Exchange Due to 'Regulatory Environment' – Decrypt

Bittrex Shuts Down US Crypto Exchange Due to 'Regulatory Environment' – Decrypt

March 31, 2023
Is Cardano, XRP in a Better Position Than Bitcoin?

Is Cardano, XRP in a Better Position Than Bitcoin?

March 30, 2023
G7 to push for tighter global crypto regulations amid concern about risks – South China Morning Post

G7 to push for tighter global crypto regulations amid concern about risks – South China Morning Post

March 26, 2023
Bitcoin climbs 5% above $28,000 as investors shrug off regulatory crackdowns – CNBC

Bitcoin climbs 5% above $28,000 as investors shrug off regulatory crackdowns – CNBC

March 29, 2023
Revolut faces issues with 2021 annual report

Revolut faces issues with 2021 annual report

March 31, 2023

About Us

We provide the latest crypto news, trading tools, and up-to-date education to students and traders all over the world.

ENROLL FOR FREE

Latest Crypto Headlines

  • Bittrex Bids Farewell to US Crypto Market Amid Regulatory Turmoil
  • Avalanche Launches Avaissance to Boost NFT Ecosystem
  • Can Dusk Network Address The Challenges Posed By The Data…
  • FTX EU Launches Website for Customer Withdrawal Requests
  • Matt Damon Shares Story Behind His Crypto Commercial – Featured Bitcoin News
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • Login

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$28,487.002.34%
  • ethereumEthereum(ETH)$1,828.242.11%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.07%
  • binancecoinBNB(BNB)$315.50-0.27%
  • usd-coinUSD Coin(USDC)$1.000.05%
  • rippleXRP(XRP)$0.51-5.10%
  • cardanoCardano(ADA)$0.3912581.68%
  • staked-etherLido Staked Ether(STETH)$1,821.302.09%
  • dogecoinDogecoin(DOGE)$0.0771183.77%
  • matic-networkPolygon(MATIC)$1.112.87%
  • solanaSolana(SOL)$21.043.74%
  • polkadotPolkadot(DOT)$6.281.69%
  • binance-usdBinance USD(BUSD)$1.000.06%
  • litecoinLitecoin(LTC)$93.566.33%
  • shiba-inuShiba Inu(SHIB)$0.0000112.70%
  • tronTRON(TRX)$0.0665362.02%
  • avalanche-2Avalanche(AVAX)$17.702.99%
  • daiDai(DAI)$1.000.08%
  • uniswapUniswap(UNI)$6.163.77%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$28,482.002.24%
  • chainlinkChainlink(LINK)$7.561.80%
  • ToncoinToncoin(TON)$2.257.64%
  • cosmosCosmos Hub(ATOM)$11.120.09%
  • leo-tokenLEO Token(LEO)$3.39-2.19%
  • stellarStellar(XLM)$0.108809-0.38%
  • ethereum-classicEthereum Classic(ETC)$20.632.66%
  • moneroMonero(XMR)$156.930.03%
  • okbOKB(OKB)$41.911.55%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • bitcoin-cashBitcoin Cash(BCH)$125.293.36%
  • filecoinFilecoin(FIL)$5.673.42%
  • hedera-hashgraphHedera(HBAR)$0.0711221.58%
  • lido-daoLido DAO(LDO)$2.415.21%
  • true-usdTrueUSD(TUSD)$1.000.02%
  • AptosAptos(APT)$11.19-0.35%
  • quant-networkQuant(QNT)$124.960.52%
  • crypto-com-chainCronos(CRO)$0.0692742.05%
  • nearNEAR Protocol(NEAR)$1.983.85%
  • ArbitrumArbitrum(ARB)$1.34-0.92%
  • vechainVeChain(VET)$0.0233283.18%
  • algorandAlgorand(ALGO)$0.2228521.27%
  • apecoinApeCoin(APE)$4.243.59%
  • internet-computerInternet Computer(ICP)$5.152.09%
  • eosEOS(EOS)$1.192.35%
  • fantomFantom(FTM)$0.4704134.43%
  • the-graphThe Graph(GRT)$0.1440611.82%
  • blockstackStacks(STX)$0.901.56%
  • the-sandboxThe Sandbox(SAND)$0.633.12%
  • decentralandDecentraland(MANA)$0.593.98%