Pullix (PLX) is providing solace for investors who are seeking new alternatives amidst the Celsius (CEL) bankruptcy ordeal. In a recent development, the crypto lending protocol reportedly executed a substantial whale transaction, transferring a staggering $1 billion worth of Ethereum (ETH).
Meanwhile, Pullix has been attracting more investors as its ongoing token presale advances through the 7th stage. The project is on path to raise $5M.
Celsius (CEL) Moves $1B in Ethereum (ETH) To Exchanges
Earlier in January, a huge amount of Ethereum (ETH) was sent to multiple centralized exchanges by Celsius, raising hopes that it will begin paying back creditors in liquid cryptocurrency by the middle of February.
On January 26, multiple sizable ether transactions were completed from the Celsius Network wallet to Coinbase Prime and Paxos deposit wallets. According to Lookonchain, 297,454 ETH valued at over $657 million was transferred to Coinbase. At the same time, Paxos received 146,507 ETH, worth almost $324 million from the same source. In summary, Celsius sent cryptocurrency assets totaling more than $981 million.
Currently, Celsius is hanging onto 106,039 ETH valued at $236 million, having remitted 443,961 ETH to Coinbase and Paxos.
According to Spotonchain, shortly after Celsius deposited $ETH to the CEX, 12 new wallets, which accounted for about 97.2% of the total deposited value, had taken out 296,835 $ETH (660M) from Coinbase.
An online community of Celsius creditors on X, Celsius NewCo, predicts that by February, creditors will begin receiving liquid cryptocurrency. They state that the distribution window will run for a whole year.
What About Pullix (PLX)?
Pullix (PLX) promises to introduce an innovative revenue-sharing scheme for stakeholders. As, an emerging hybrid trading platform, it attempts to bring together the best attributes of decentralized (DEX) and centralized (CEX) exchanges.
Among other things, Pullix’s distinctive approach to resolving the long-standing liquidity problem in DeFi positions it strong among its peers. Additionally, the hybrid exchange plans offering a synergy between off-chain and on-chain trading, enabling users to trade FX, commodities, ETFs, options, and cryptocurrencies easily.
The native PLX token is also a first-of-its-kind “trade to earn” cryptocurrency, which rewards holders based on their transactions on the site. Likewise, the PLX token grants access to specific assets, while also providing lower trading costs for holders.
With over 80 million tokens sold and in the 7th stage of the ongoing token presale, Pullix has now raised an accumulated total surpassing $4.7 million in its ICO.
It is also worth noting that the Pullix community is also growing. Each PLX token currently sells for $0.10 in stage 7 of the presale.
For more information regarding Pullix’s presale see links below:
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