A major whale's $263 million position is on the verge of liquidation, with a floating loss of approximately $65.49 million.

According to crypto analyst EmberCN, an address that accumulated approximately $263 million worth of WBTC and ETH through revolving loans three months ago is nearing liquidation due to the continued market decline. Four hours ago, this address sold 1316.8 ETH, realizing approximately 4.017 million USDT to repay loans and mitigate liquidation risk.

Currently, this address still has approximately $146 million in USDT borrowed on Aave, with a position health rate of only 1.05. If BTC and ETH fall by another 5%, its position will be liquidated. Based on its initial investment cost of $116,762 for WBTC and $4,415 for ETH, the current unrealized loss is approximately $65.49 million.