Try Quests to earn cryptoCelsius Swaps
Which tokens did they swap the most. From which one of their wallets did they conduct most of the swaps?
Hello, In this dashboard we are reviewing Celsius network activity on Sushiswap and UniSwap dexs.
But at first let's know Celsius network:
Celsius network is a regulated, SEC compliant, lending platform that enables users to receive interest on deposited cryptocurrencies or take out crypto collateralized loans.
Celsius hopes to attract users by returning high yields on their deposits while maintaining the benefits apparent in traditional outlets such as quick, fee-less transactions. For existing crypto investors wishing to take out a loan, Celsius provides an opportunity to receive dollars without cashing out of cryptocurrency holdings.
How Does Celsius Work?
The Celsius Network is composed of hosted accounts on Celsius and a variety of crypto exchanges intending to minimize the transfer of crypto-assets outside its system.
Ultimately, there are four key players within Celsius system:
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Lenders – Depositors who earn interest on their accounts holdings
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Borrowers – Margin traders who wish to take leveraged short or long positions
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Celsius Platform – Facilitates trades, manages risk, and determines trading fees
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External exchange markets – Executes trades and borrows/provides liquidity
The $ETH price crush and delay on Ethereum merge, face Celsius with serious problems which can you know about it here:
After knowing our research case, we want to track Celsius owned wallets swapping activity:
At first let's find Number and volume of sold tokens by Celsius in last 3 month:
As you see $WETH sales is much more than the other tokens, And the reason can be find on the troubles they are facing recently!
Let's look at their purchases:
$LDO is the leader here by far, and If you have been looked to their issues story, you know Celsius and Staked $ETH and Lido story already!
Celsius network have multiply wallets working with Defi protocols< Here e want to find The wallets making this swaps:
With more than %85 of swaps shares, 0x5fae4c088b1d8dddbdafff93a648dd87a71c6dea is the most active wallet related to the Celsius network in recent 90 days.
Well that's it, Hope you liked my try :)
Now let's go back to 3 month earlier!
As you see before the crisis, They did not had sell the various tokens as now!
Let's take a look to purchases:
We see their purchases variety was more than recent 3 month also, especially their CRV related assets, which have higher number of transactions comparing with recent days. In fact due to the issues, they are focusing on Lido platform more than anything else!
And the wallets activity:
The most active wallet is the same, but here fewer wallets are participating in swaps, In fact the active wallet had higher share in swaps on starting days of 2022.