EddieJayonCrypto
7 Apr 25
A crypto whale holding a $340 million position in Ethereum is taking steps to avoid liquidation as ETH's value drops. The whale, with a 220,000 ETH long position on Maker, deposited over 3 million DAI and 10,000 ETH to lower the liquidation price to $1,119.30. Other whales are also at risk of signif...
A crypto whale with a $340 million position in Ethereum is taking swift action to avoid liquidation as ETH's value drops. The whale, with a 220,000 ETH long position on Maker, deposited over 3 million DAI and 10,000 ETH to lower the liquidation price to $1,119.30. Other whales are also at risk of significant liquidations. One whale faces a $77 million ETH liquidation if the price falls below $1,500. The market decline was attributed to US President Donald Trump's announcement of high tariffs. As of now, ETH is trading at $1,548, down 11.8% in the last 24 hours.
A crypto whale with a $340 million position in Ethereum is making quick moves to prevent a liquidation as ETH plummets in value. According to on-chain data tracker Lookonchain, a deep-pocketed whale with a 220,000 ETH long position on the decentralized finance (DeFi) platform Maker (MKR) suddenly deposited more than 3 million DAI to help avoid liquidation. Other crypto whales are also looking at massive liquidations if they don’t act quickly. Financial markets have been trending lower ever since US President Donald Trump announced on April 2nd high tariffs on countries around the world. Lookonchain notes one whale is facing a $77 million ETH liquidation after the top altcoin by market cap dipped into the $1,400 level. As markets extended their sell-off Monday, ETH collapsed to a low of $1,431, and has since regained some losses. ETH is trading for $1,548 at time of writing, down 11.8% in the last 24 hours.