Ethereum Price Drop Leads to Major Liquidation Event

According to Odaily, a significant liquidation event occurred following a sharp decline in Ethereum's value. A monitored address, which had provided 43,600 WETH and 163.48 wstETH while borrowing 56 million stablecoins, faced liquidation as Ethereum's price plummeted by 20% over the past 24 hours. As a result, a total of 5,000 WETH, valued at approximately $6.93 million, was seized.