The historical crash in the crypto and traditional capital markets puts a lot of investors into trouble. Whales also do not remain unharmed. An unknown Crypto Whale on the Ethereum (ETH) network managed to avoid a hair after a liquidation of no less than $ 360 million (~ € 325 million), according to data from analysis platform Lookonchain that was shared on X.
Whale jumps with 10,000 Ethereum coins
The wealthy address has a huge position of no less than 220,000 ETH on Makerdao, one of the larger Decentralized Finance (Defi) platforms within the Ethereum ecosystem. The On-Chain Data from Lookonchain shows that the wealthy address threatened to liquidate if the Ethereum prize dropped to $ 1,119.
On Monday, the ETH race experienced a huge crash, the Altcoin dropped from around $ 1,580 to a level of $ 1,430. This has clearly made the Whale relevant very nervous, which led to the wealthy address no less than 10,000 Ethereum, coins, about $ 14.5 million, deposited at its ETH position. This further reduced the liquidation price, giving the Whale more breathing space.
$ 1.36 billion liquidated on Monday
Unfortunately, many other investors have not been spared. Data from Coinglass shows that no fewer than 446,000 positions were liquidated on Monday in 24 hours. As a result, the total losses on the ‘Black Monday’ increased to no less than $ 1.36 billion. One of the biggest liquidations concerned a Bitcoin (BTC) investment on the OKX Exchange, with the investor lost $ 7 million.
The large amount of liquidations is a reminder for investors to use livered trades with appropriate caution. By using leverage you can significantly increase your return, the disadvantage is that a large crash ensures that your position is forced.
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Source: https://newsbit.nl/ethereum-whale-ontsnapt-op-het-nippertje-aan-e325-miljoen-ramp/
