Odaily news, according to a document disclosed by The Block on June 14, pending court approval, the Celsius debtor plans to convert all customers’ altcoin positions into Bitcoin and Ethereum (except those in Custody and Withhold accounts) ), sales will begin on July 1.

The filing also states that the conversion will not affect any creditors' claims. Debtors will also maximize the exchange of cryptocurrencies as much as possible.

The debtor said the overall plan would include payments to creditors in cryptocurrencies in the form of bitcoin and ethereum, except in limited circumstances. Updates on token conversions will be included in the monthly budget and cryptocurrency reports.

So which currencies are involved in the altcoin positions mentioned above, and what is the amount?

According to the document, excluding stablecoins, Bitcoin, Ethereum, and the mirror currencies of the above currencies,The total value of the altcoins held by it is about 218 million US dollars, and the top five altcoins with a book value of more than 10 million US dollars are:

• CEL: valued at approximately US$70.5 million

• MATIC: worth about $51.8 million

• ADA: worth about $26.2 million

• LINK: Worth approximately $17.3 million

• LTC: worth about $14.4 million

It is worth noting that although its own token CEL has the highest book value, because a certain proportion of the tokens are lock-up tokens, its holdings even exceed the current circulation, so the actual circulation value and the current book value There should be a large gap in value.

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Image via @apes_prologue

However, this proposal has not yet been clearly approved, and the specific method of conversion to Bitcoin and Ethereum is unknown, or it may not have a short-term real impact on the market.