Tracking lending on the Celsius chain: Positions are getting healthier
Original compilation: PANews
Original compilation: PANews
The latest data shows that Celsius's position status is becoming more and more healthy. Celsius is seeking more financial support to increase collateral for its three main positions:
Maker wBTC Vault, now at a liquidation price of $14,000, has paid off more DAI debt:
Additionally, more ETH has been added to Celsius’s stETH Avalanche on-chain collateral, and $2.4 million in USDC debt has been repaid. It should be noted that, due to the small amount of ETH added to the Avalanche chain, the health of Celsius on the Aave chain is still lower than before given the underlying collateral.
There is another position that people don’t pay much attention to, which is Compound. Celsius’s position on Compound is not small. They recently repaid $6.2 million worth of DAI debt, and they didn’t touch their positions on Compound too much.
It should be noted that the above-mentioned position size alone accounts for 47% of all borrowed DAI in Compound, and accounts for 25% of all borrowed USDC. It can be seen from this that the locked position in DeFi is likely to be only A very small number of people (giant whales) dominate, a question Larry Cermak, vice president of research at The Block, has also raised before.
Celsius seems to use the following wallet as the FTX entry, they use this wallet to withdraw Tether, then convert it to DAI and use it to support margin calls.
In fact, the Celsius wallet has a lot of transactions on the chain. For example, it is also interesting to have a secondary wallet (as shown in the figure below), in which a large number of ERC-20 assets come in and out, because Celsius is constantly strengthening the collateral position and calculating the total assets.
From my personal point of view, there are still many uncertainties in Celsius. In the Curve liquidity pool, the stETH owned by Celsius still occupies a large proportion. I think a lot of people are waiting for news about stETH, if there is good news, the market confidence level may be further improved, but at the same time risks still exist.
To be sure, Three Arrows' Su Zhu and Kyle Davies didn't help Celsius dump the stETF, let's hope Celsius can sort things out and maybe see a rebound afterwards.
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