Cryptocurrency lender Celsius Network has adjusted its ETH staking strategy and has been working to transfer ETH to the staking contract after it redeemed about $813 million in collateralized ETH from LidoFinance over the course of two days. Celsius has deposited around $745 million in ETH since June 1, according to Arkham Intelligence. Tom Wan, an analyst at 21Shares, said the transfers extended the queue to 44 days, with Celsius potentially taking almost a week of extra time to set up a new validator on the ethereum network.
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