Celsius has continuously deposited money to repay its loan which is collateralized by WBTC on MarkerDao.
By doing so, the liquidation price of the Celsius loan on MarkerDao has been significantly lowered to only 4k967. This means that the BTC price needs to drop to 4k967 to make WBTC Collateral of Celsius liquidated.
On July 4th, Celsius deposited 64 million DAI to repay the loan. Total debt is now 82 million DAI with 23k962 WBTC being collateralized.
We can now partially mitigate the fear of Celsius’ massive collateral liquidation as well as the fear of the bankruptcy of Celsius that could trigger the Domino effect and continue to dump the market.
Check the liquidation price of the Celsius loan on MarkerDao here: https://bit.ly/3yiLf1k
Defi Learn: https://bit.ly/3IeFlTG