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Celsius Community paused withdrawals, swaps and transfers after weeks of hypothesis over the sustainability of the outsized returns being provided by the “decentralized finance” lending platform, fueling a broad cryptocurrency selloff.
Crypto markets tumbled after the Celsius announcement, with bitcoin dropping as a lot as 14% to the bottom degree since December 2020 and different main tokens resembling ether additionally falling sharply. Celsius’s CEL token was down about 50% to 19 cents as of seven:16 a.m. in New York, based on pricing knowledge website CoinGecko.
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