Celsius has repaid 143 million DAI loans since July 1

The crypto lender's liquidation price on its Bitcoin loan has fallen below $5,000, according to DeFi industry data. New

Celsius (CEL) has repaid a substantial amount of its outstanding debt to the Maker Protocol (MKR) since the beginning of the month, signaling that the struggling crypto lending platform was trying to avoid a complete collapse in the middle of credible rumors of insolvency.

Since July 1, Celsius has redeemed $142.8 million worth of Dai (DAI) stablecoins across four separate transactions, according to data from DeFi Explorer. The crypto lender still owes $82 million to Maker. Out of $1.8 billion in lifetime investments, the company's losses currently stand at $667.2 million.

With the loan repayments, Celsius' liquidation price on its Wrapped Bitcoin (wBTC) loan fell to $4,966.99 Bitcoin (BTC). The liquidation price has reportedly fallen by almost half since Celsius posted a DAI payment of $64 million on July 4, just hours after paying $50 million in DAI.

JUST IN: Celsius Network has repaid another $50 million for its #Bitcoin loan. Their clearance price dropped to $8,840.

Celsius is among several crypto blue chip companies on the brink of insolvency after extreme market conditions caused historic losses across multiple positions. The company