Methodology

we are looking to see the activity of the CEL token on Ethereum from celcius and non-celcius wallets. To understand this activity we will create the following visualization for both celcius and non celcius wallets:

• Daily CEl swaps/transfer volume

• Daily CEl swaps/transfer events

• Total CEL volume and events

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What is Celsius?

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.

What is currently happening to Celsius?

Currently Celsius is pausing all withdrawals, Swap, and transfers between accounts. Celsius appears to be the latest crypto company to buckle under tightening financial conditions and is rumored to be having liquidity issues.

What is the CEL Token?

The CEL token is the token of the Celcius platform

Observations

There were two spikes in trading volume of the CEL token by Non-celcus wallets in Jan 2021 and July 2022 with almost all of the activity happening on Uniswap-v2. In terms of transfers volume there has been a spike in transfer volume and number of transfers in June of 2022.

Observations

Celsius wallets consistently transfer CEL tokens from the end of 2019 to June 12th in 2022. Since then there have been 7 CEL transfers from Celcius wallets. Celsius wallets have not swapped the CEL token on DEXs.

Conclusion

On June 12 the transfer activity of the CEL token completely stopped on Celcius wallets while there was a large spike in transfers and DEX swaps of the CEL token amongst non-Celsius wallets.