Celsius Network Transfers Over 1B in ETH to Exchanges

Celsius Network’s large-scale transfer of Ethereum to CEXs.
Significant transactions include 674M to Coinbase Prime and 324M to Paxos.
Total of 757,626 ETH moved since November 2023, retaining 62,469 ETH.

In a series of significant financial maneuvers, Celsius Network has transferred an impressive volume of Ethereum to several centralized exchanges (CEXs). Over the past 8 hours, the network has moved 459,561 Ethereum, equating to over 1 billion dollars, to platforms including Coinbase Prime and Paxos. This move indicates a strategic realignment of assets within the network.

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The transactions included a massive transfer of Ethereum worth approximately 674 million dollars to Coinbase Prime and about 324 million dollars to Paxos. Additionally, a smaller amount of 17.02 million dollars in Ethereum was sent to FalconX. These movements represent a substantial redistribution of Celsius Network’s digital assets.

Since November 13, 2023, Celsius Network has been actively reallocating its Ethereum holdings. The total transferred since then amounts to 757,626 Ethereum, valued at roughly 1.69 billion dollars, to various exchanges like FalconX, Coinbase, OKX, and Paxos. These transfers are a testament to the dynamic strategy employed by Celsius Network in managing its digital asset portfolio.

Despite these significant transfers, Celsius Network continues to hold a considerable amount of Ethereum. As of the latest data, it retains 62,469 Ethereum, valued at approximately 138 million dollars, in its address 0xdb3. This balance highlights the network’s ongoing commitment to Ethereum as a key component of its investment strategy.

In conclusion, Celsius Network’s recent Ethereum transfers to major exchanges mark a critical phase in its asset management approach. These strategic moves in the cryptocurrency domain underscore the fluid and dynamic nature of digital asset management in today’s financial landscape.

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