What are the top addresses swapping and transferring CEL?

Swapping

• 0xa3b83d0e2f3d2c675439188ef1aa13d1c6abca16 is the top address swapping the most amount of CEL token, with a cumulative total of 1.2 M $USD worth of CEL tokens
• 0xb4e16d0168e52d35cacd2c6185b44281ec28c9dc comes in close second with 1.1M $USD worth of CEL tokens swapped.

Transfers

• ftx exchange(0x2faf487a4414fe77e2327f0bf4ae2a264a776ad2) is to top transfer wallet with 20M $USD CEL tokens transferred to the celsius wallet (0x845cbcb8230197f733b59cfe1795f282786f212c)
• celsius wallet(0x4f6742badb049791cd9a37ea913f2bac38d01279) comes in second with 16M $USD CEL tokens transferred to celsius wallet(0x8b47ed08fd5f134c57b826fbd33e1de121de880d)

How have the CEL swap volumes changed over the past 90 days?

We look at the swap volume as the swap frequency to answer this question.

Majority of the swaps from CEL tokens are to WETH.

Swap Volume

• The swap volume from $CEL token has been sporadic, it peaked on May 12, 2022, upto 1M $USD, however after that we saw some quiet period until June 13, 2022, when we saw ~ 1.2M $USD of CEL token being swapped to WETH.

Swap Frequency

• The frequency doesn’t really co-relate with the swap volume, we saw spikes on Jun 14 and Jul 14, with ~500 swaps daily from $CEL tokens.
• Swap frequency has been quite sporadic as well with some days seeing spikes, others seeing not much frequency.

Celsius Wallets Swapping

• Surprisingly there was no swap transactions of $CEL coming from the Celsius wallets.

How are Celsius wallets interacting with the CEL token?

We look at the transfer volume, the CEL token balance, Top 20 wallets with CEL token transfers and CEL transfer Frequency

• The CEL transfer volume for Celsius wallets peaked on May 11, right around the Terra crash with 35M $USD of CEL transferred to or from the Celsius wallets.

• The CEL transfer frequency peaked on May 9, 2022 actually with ~6000 transfer transactions to or from the the Celsius wallets.

• The Top transfer pair between Celsius wallets was

  celsius wallet(0x4f6742badb049791cd9a37ea913f2bac38d01279)-->celsius wallet(0x8b47ed08fd5f134c57b826fbd33e1de121de880d), with a total of 1.6M $USD of CEL tokens transfers, followed by

  celsius wallet(0xdb31651967684a40a05c4ab8ec56fc32f060998d)-->celsius wallet(0x4f6742badb049791cd9a37ea913f2bac38d01279) with 1M $USD.

• We also look at the CEL Balance of these Celsius wallets, until May 8, 2022 it was ~700M $USD worth of CEL tokens, however after that we saw a very sharp decline, partly due to decline in price partly due to the sharp sell off around the time.

  • It went as low as 100M $USD on June 13, 2022.

What does the future hold ?

• Given there are only ~330M $USD worth of CEL tokens left with Celsius wallets today, it will be hard to cover up the 1.1 B $USD deficit on the balance sheet.
• Unless someone bails Celsius out like FTX or someone else, Celsius has cloudy skies ahead as well.