yc @yc989 Jun 5, 2022 Replying to @yc989 50k ETH/week, Celsius will run out of liquid ETH in around 5 weeks. It is im...
Author yc (@yc989) argues that Celsius is drawing down roughly 50k ETH per week and, given its ETH allocation split (only ~27% liquid, remainder in stETH/ETH2 staking), could run out of liquid ETH in about five weeks. The thesis frames this as a crypto liquidity/solvency contagion risk that could pressure ETH price through forced sales, stETH-ETH peg stress, and redemption gating rather than a public-equity-specific event.
Linked assets
ETH — The thesis identifies ETH as the directly referenced asset exposed to downside from Celsius' ETH liquidity mismatch and potential forced selling dynamics.
Directly referenced asset in the liquidity-run thesis; downside catalyst is gating/forced selling dynamics. Risk: market may have already priced this; Celsius could obtain financing, slow outflows, or markets could rally, squeezing shorts.
Source proof
Source proof: Strong source proof | 5 extracted claims | 1 directional asset | 1 supporting author | 1 successful tracked leg | headline-like title review
Primary source: a June 5, 2022 post by yc (@yc989) claiming Celsius is burning ~50k ETH/week and will run out of liquid ETH in around five weeks. Related posts from the same author elaborate that only ~27% of Celsius' ETH is liquid while the rest is held as stETH or staked for ETH2, implying withdrawal/run risk and possible redemption gating.
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Post warns Celsius (crypto lender) is burning ~50k ETH/week and may run out of liquid ETH in ~5 weeks, implying inability to honor redemptions due to stETH illiquidity and eventual redemption gating. This is a crypto-liquidity/solvency contagion thesis rather than a public-equity-specific call.
Post alleges Celsius ($CEL) is "functionally insolvent" due to an ETH liquidity mismatch: only 27% of its ETH is liquid while the remainder is in stETH or ETH2 staking (illiquid for ~1 year), implying heightened withdrawal/run risk and potential forced selling/peg stress in related assets.
Single-character emoji-only post with no tickers, claims, catalysts, or market/sector context. Not actionable for investing.
Supporting authors
Single author: yc (@yc989). Related posts from the same account include an earlier alert on the 50k ETH/week burn and a follow-up claiming Celsius' ETH position is 'functionally insolvent' due to the liquidity mix.
Unlock full thesis monitoring
Positioning implied: sell/short-risk on ETH driven by Celsius redemption/liquidity dynamics. Monitor Celsius announcements, stETH-ETH peg behavior, withdrawal/gating notices, and any financing or liquidity actions by Celsius that could mitigate forced selling.