My thought, I bought almost 50k CEL these days
This sentiment atmosphere, though
There is 17million CEL shorts to go still
FTX has like 6million CEL in their wallet. They are allowing naked shorting of 17million CEL Interest rate is currently 7% day. In 1 week, their shorts will dissolve 50% to lending interest. Filter to CEL https://ftx.com/intl/spot-margin/lending
How is it loosing profit is steth = eth but with a ''time'' plus? It's not like usdc-usdt. It's literally the same asset, but locked. "Oh because price of steth-eth deppeg. Please. It deppeg tons of times to arbitrage 5% up/down. It's a bear market, ppl panic and have the wise decision to trade the same asset for a lower price. hahahahah
Well... I'm no analyst or fundamentalist. I'm trader as a living so all I know is about players and price. Probably there are a lot of Celsians that wish to sell their CEL token but are locked. One option is to make a margin short at FTX to hedge your price. But the problem is you cannot send it to FTX to payback the lender yet. So all of that summed with the fact that there are real speculative shorts going on made interest for shorts rise to 7% a day. It means in 1 week shorts dissolve 49% of their balance. It's unsustainable. Even whoever margin sold to hedge is getting rekt as time goes on... and they are helping margin speculative sellers to get rekt by increasing interest rate hahahahahahahaha So funny. So ppl shorted must be thinking to exit in less than a week @HODL_ON
If I were Celsius, I would keep wallet locked to influence interest rate then would sell part of the treasury during the short squeeze so these rekt sellers buy the treasury to pay the lenders back. Then you have money at hands to deal with collaterals etc. But it would neutralize the CEL price for a while. But company would have cash in hands. Unless they already have a lot of collateral... so no problem @HODL_ON
up... This is going on.
so celsius is saved?
Dunno.. I just see price.
Before you guys see a +638%
This is how short squeezes starts to happen.
Hi Off , do you think our assets are ok. Do you think we’ll have an ama this Friday?
TBH I do. If they lend 1:1 and are making these rehypothecation/loan loops takes time to unwind. What I see is that Celsius usually had a % liquid. The rest all rotating... Then to stop people withdrawing more what they have liquid before unwiding, close withdrawals. They bought time because they are illiquid in my view.
Is naked shorting common? Or is this a Sam special
It's illegal in tradfi many countries for this reason
It's similar to GameStop and AMC mad pump previously. Short more than supply.
Well not advised to let it happen. But it's like a rubberband. These geniuses forced it so much that went back in a 640% slash
Up
Too early to be sure, but it seems it's compressing price again
@ttthhhfff
So they will exit which means they at least take 1 L?
So FTX really executed more buy spot orders than what they really have (because every naked short has a counterparty which is a buyer)
teeron
That's TA, nothing to do with shortsqueeze narrative
@erikmendelson when I really did act upon shortsqueeze people were not even talking about it, friend. It did 1000%.
Maybe you did 1000%. And that’s my point
I do not call for any of these things because I know retail always get the wrong price and get rekt
Are you that Erik who was arguing on the space?
Yes. Not arguing. Defending myself and opinion. They block me from the space then call me a troll when I can’t defend myself When I’m clearly doxxed
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