Blockchain data reveals a few transactions selling large amounts of CEL tokens during the recent token surge from a wallet that crypto intelligence companies Nansen and Arkham Intelligence have identified as Celsius CEO Alex Mashinsky’s.
In what appears to be a community-driven short squeeze, the token has nearly doubled in the last week.
When Twitter user @etheraltog shared the news, it quickly went viral.
The ‘Mashinsky Identified Wallet’ reactivated after being inactive since May and began processing its first transactions. The wallet exchanged 17,475 CEL tokens for $28,242 in ether (ETH) on the decentralized exchange UniSwap in multiple transactions.
Arkham Intelligence discovered a few Mashinsky wallets that sold large amounts of the CEL tokens on various decentralized exchanges on a regular basis.
Celsius listed its largest owners on their website prior to bankruptcy, with Mashinsky reportedly being the largest Celsius token holder just after the Celsius treasury.
Also Read: Celsius’ Creditor Committee to Investigate Misconduct by its Insiders
According to Nansen’s portfolio tracker, the wallet that completed the transactions held approximately $1.1M in CEL tokens as well as some ETH and USDC at the time of publication.
