Celsius debtor plans to sell all altcoins

According to a June 14 document disclosed by The Block, pending court approval, Celsius debtors plan to convert all customers’ altcoin holdings into Bitcoin and Ethereum (except those in Custody and Withhold accounts), the sale said. It will start on July 1st.

Odaily Planet Daily 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 (in Custody and Withhold accounts) except for ), 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 top five altcoins with a book value of more than tens of millions of dollars are:

• CEL: valued at approximately US$70.5 million

• MATIC: Worth approximately $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.

details as follows:

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.