Ethereum Whale Faces Liquidation as ETH Drops Below $1,800
A major Ethereum whale faces liquidation as ETH dips below $1,800, risking over $121M in holdings despite last-minute efforts to avoid it.
- A whale’s 67,675 ETH is being liquidated as the price falls under $1,800.
- The whale tried to prevent liquidation by repaying $1.54M DAI and depositing 2,000 ETH.
- Despite efforts, ETH dropped below the adjusted liquidation threshold of $1,836.43.
Ethereum’s price dip below the crucial $1,800 mark has triggered a massive liquidation for a crypto whale holding 67,675 ETH, valued at approximately $121.8 million. The whale, in an attempt to prevent liquidation, deposited 2,000 ETH (worth $3.73M) and repaid 1.54 million DAI to lower their liquidation threshold to $1,836.43. However, these efforts were in vain as ETH continued to decline past this level.
Desperate Moves to Prevent Liquidation
In the volatile world of crypto, liquidation events can lead to cascading effects, impacting the broader Market. This whale’s position highlights the risks associated with leveraged trading. By depositing more ETH and repaying debt, the investor attempted to push back the liquidation threshold. But with Ethereum facing selling pressure, these defensive actions failed, leading to forced liquidation.
Impact on the Crypto Market
Large liquidations can have a ripple effect on the market, adding to downward pressure on Ethereum’s price. When such significant positions get liquidated, it can trigger further sell-offs, worsening the bearish trend. Traders and investors are closely watching how this event unfolds, as it could influence Ethereum’s price movement in the coming days.
What’s Next for Ethereum?
Ethereum’s price remains under pressure, and if the downtrend continues, more leveraged positions could face a similar fate. Market participants are now speculating whether ETH can recover quickly or if this liquidation event signals a deeper correction ahead.
