A leading analytics firm says whales are accumulating the native token of an embattled crypto lending firm over the past week and a half.<\/p>\n\n\n\n
According to\u00a0Santiment<\/a>, large buyers have been accumulating CEL tokens \u201cin a big way\u201d in the last 10 days.<\/p>\n\n\n\n \u201cCelsius and its +290% price surge in 10 days came as traders were disregarding the token. But behind the scenes, big shark and whale addresses were accumulating in a big way.\u201d<\/em><\/p>\n\n\n\n The native token of Celsius<\/a> (CEL) hit a multi-year low of $0.15 on June 13th but rose to a recent high of $1.55 on June 21st, a more than 933% increase.<\/p>\n\n\n\n The asset has since dropped by nearly 40% and is trading for $0.946756 at time of writing.<\/p>\n\n\n\n Celsius announced a temporary halt on withdrawals on June 12, and CEL subsequently crashed by more than 99% from its all-time high.<\/p>\n\n\n\n The firm has not reinstated withdrawals and last week paused<\/a> its routine ask-me-anything sessions with the public. State regulators across the US have opened investigations<\/a> into Celsius\u2019 operations.<\/p>\n\n\n\n Santiment also says<\/a> two factors are potentially bullish for Bitcoin<\/a> (BTC).<\/p>\n\n\n\n \u201cThe ratio of Bitcoin\u2019s supply continues staying low, at levels last seen in November 2018. This is a good signal of limited future selloff risk. In the meantime, Tether supply continues skyrocketing on to exchanges, indicating greater buying power.\u201d<\/em><\/p>\n\n\n\n Additionally, Santiment says<\/a> whale activity surrounding synthetic asset issuer Synthetix<\/a> (SNX) has surged in tandem with its price over the last two days.<\/p>\n\n\n\n \u201cSynthetix is up +97% since this time on Saturday, and we can clearly see the major surge in SNX whales activity, showing their involvement. The 87th largest crypto asset by market cap typically has 3 $100,000+ transactions a day, and Sunday had 129.\u201d<\/em><\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" A leading analytics firm says whales are accumulating the native token of an embattled crypto lending firm over the past<\/p>\n","protected":false},"author":1,"featured_media":9855,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3423,254,3421],"tags":[3426,888,3469],"_links":{"self":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts\/9854"}],"collection":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9854"}],"version-history":[{"count":1,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts\/9854\/revisions"}],"predecessor-version":[{"id":9856,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts\/9854\/revisions\/9856"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/media\/9855"}],"wp:attachment":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9854"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}