Odaily Planet Daily News According to Ember's analysis, a whale sold 25,800 ETH at 1,853 5 hours ago to avoid position liquidation, in exchange for 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 prompted some whales who are long ETH on leverage to be on the verge of liquidation, and have to sell ETH to lower the position liquidation line, and these selling behaviors have further exacerbated the decline of ETH.