Celsius Network: Treasury just burned all 652.2M CEL ($85.75M), or 93.7% of the total supply:

• transaction: 0xe4bdc09a717dbb9c97f7f1288b37e63c1e61a724aab5b4196db613910ead067e
• address: 0x455257963812c008ce8edf3d08cb48e95c8aa2e2
• This address belongs to the entity Celsius Network: Treasury

Notably:

• This reduced the current total supply to 40.6M CEL, as reflected in CoinGecko, and might have boosted the CEL price by 7%, from $0.13 to $0.139 in the past 7 hours post-burn.
• CEL, however, appears to be traded normally on CEX, including OKX, Bitget, Gateio, Bybit, and MEXC.
• Celsius first stated its intention to burn all CEL tokens in its possession in the September 2023 bankruptcy filing but did not mention the token burn when announcing plans to distribute $3 billion in crypto to creditors in January 2024.
• The test burn of 2 CEL tokens occurred 3 months ago on January 24, 2024.

Fig 1. Celsius Network: Treasury just burned all 652.2M CEL ($85.75M).

Fig 2. The price of CEL 7 hours after the burn.

Fig 3. CEL remains being traded normally on OKX.