An ETH lending whale's position is approaching the liquidation line, selling 238 ETH for 488,000 DAI to repay debt.
According to Odaily, on-chain analyst Yujin has monitored that a certain ETH lending whale's position is approaching the liquidation line. He has collateralized 23,800 ETH ($48.56 million) on Spark (@sparkdotfi
) and borrowed 35.27 million DAI. The liquidation price for the position is at $1,800. As ETH dropped to the $2K mark, there is only a $250 gap from his liquidation price, forcing him to start cutting losses and reducing his position: just now, he sold 238 ETH in exchange for 488,000 DAI for repayment. If the price continues to fall, he will have to keep selling ETH to lower the liquidation price.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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