CEL down over 50% since Celsius Network’s withdrawal freeze

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CEL has dropped 53.1% over the past 24 hours and was trading at US$0.20, at press time, according to CoinGecko

Fast facts

  • Crypto staking and lending platform Celsius Network paused user withdrawals, swaps, and transfers on Monday, citing “extreme market conditions,” driving its native token to shed more than half of its value.
  • Celsius reportedly transferred US$320 million in digital assets to crypto exchange FTX before halting user withdrawals.

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