A major revolving loan whale is selling off 9,516.8 ETH in 24 hours to prevent liquidation.

According to crypto analyst EmberCN, a whale that used a revolving loan to hoard WBTC and ETH at high prices sold 9,516.8 ETH between yesterday and early this morning, for a total of 29.36 million USDT, at an average price of $3,085. The proceeds were used to repay loans from Aave. Its debt decreased from $150 million to $121 million, and its near-liquidation health rate rose from 1.04 to 1.12, temporarily escaping the high-risk zone.

The address currently holds 1,560 WBTC (worth $144 million) and 9,000 ETH (worth $28.04 million) as collateral. Analysts point out that the health rate of 1.12 is still relatively low, and if BTC and ETH fall further, this whale may need to further reduce its holdings and leverage.