$ADA $MATIC and $SOL will have a tough summer as Celsius plans on liquidating its altcoin assets
, a notable player in the cryptocurrency lending and borrowing sector, has recently publicized its decision to liquidate its customers' altcoin holdings. The divestment will commence on July 1, sparing only Custody and Withhold accounts. This development is particularly significant given that Cardano , Polygon and Solana constitute the largest portion of the platform's altcoinCardano has been hailed as a transformative force within the blockchain realm.
The potential ramifications of Celsius' divestment are substantial. Large-scale liquidations can exert significant downward pressure on the prices of the targeted altcoins. This development could, in turn, trigger a cascade effect, compelling altcoin holders across various platforms to sell their assets in anticipation of further depreciation.Conversely, for investors with a bullish long-term outlook on these altcoins, the sell-off might present a compelling buying opportunity.
The forthcoming divestment by Celsius is poised to have immediate and consequential impacts on the altcoin market. Whether these impacts will translate into further price devaluation or an attractive buying opportunity remains uncertain.
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