A whale sold 25,800 ETH due to the imminent liquidation of its position, with a loss of $31.75 million

Odaily News According to Ember's analysis, a whale sold 25,800 ETH at 1,853 5 hours ago to avoid position liquidation, and received 47.81 million USDT to repay leveraged loans. The whale had previously used revolving loan leverage to buy ETH at an average price of 3,084 in July 2024. This transaction caused him to lose up to 31.75 million on leveraged ETH alone.
The decline in ETH prices has caused some whales that were long ETH with leverage to be on the verge of liquidation, forcing them to sell ETH to lower their position liquidation lines, and these selling behaviors have further exacerbated the decline in ETH.