A certain ETH lending whale position is approaching the liquidation line, selling 238 ETH to exchange for 488,000 DAI for repayment.

robot
Abstract generation in progress

Odaily Planet Daily reported that on-chain analyst Yu Yan monitored that a certain ETH lending whale position is approaching liquidation. He collateralized 23,800 ETH ($48.56 million) on Spark (@sparkdotfi), borrowing 35.27 million DAI. The liquidation price for the position is $1,800. As ETH dropped to the $2,000 mark, only $250 away from his liquidation price, he was forced to start cutting losses and reducing his position: he just sold 238 ETH in exchange for 488,000 DAI to repay the loan. If the price continues to fall, he can only keep selling ETH to lower the liquidation price.

ETH4,2%
DAI-0,03%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)