Whale Sells Ethereum to Repay Debt Amid Market Volatility

According to BlockBeats On-chain Detection, a major cryptocurrency holder, known for accumulating Wrapped Bitcoin (WBTC) and Ethereum (ETH) through circular loans, has sold 9,516.8 ETH from yesterday to early today. The sale, at an average price of $3,085 per ETH, generated $29.36 million in USDT for debt repayment. The individual's debt on the decentralized finance platform Aave has decreased from $150 million to $121 million. This transaction improved the health rate of the at-risk position from 1.04 to 1.12, temporarily averting liquidation. The remaining collateral includes 1,560 WBTC, valued at $144 million, and 9,000 ETH, worth $28.04 million. Despite the improvement, a health rate of 1.12 is not considered secure. If the prices of Bitcoin (BTC) and ETH continue to decline, further asset liquidation may be necessary to maintain the position.