Celcius Market Cap Crashes 86% On Year-To-Date Basis As Company File For Bankruptcy

As the company’s problems worsen, investors have stepped out to relate their experiences following the withdrawal freeze and the ensuing bankruptcy application. One user who placed their entire life money in Celsius lost everything.

Uncertainty over when business as usual will return further complicates the situation for the affected investors. Even though Celsius voiced optimism about allowing withdrawals, the most recent developments continue to dash investors’ hopes. The firm’s issue also seems to have played a role in the native token CEL’s notable capital outflows. According to CoinMarketCap, CEL’s market value has dropped by 85.84% year-to-date in 2022, from $1.06 billion on January 1 to $0.15 billion on July 14.For instance, on July 4, CEL’s community’s activity produced double gains.