Beleaguered crypto lending platform Celsius (CRYPTO: CEL), which had paused all withdrawals, swaps, and transfers between accounts last week Monday said while its objective continues to be stabilizing its liquidity and operations, the process will take time.
Amid bearish market sentiments, cryptocurrency lending platform Babel Finance has announced that it was halting withdrawals as it was facing “unusual liquidity pressures.”
Despite the Nasdaq bouncing 0.21% yesterday and both the S&P 500 and Nasdaq futures showing gains this morning, Bitcoin (CRYPTO: BTC) continues to plummet.
What are the factors contributing to this extreme sell off?