ETH Whale Sells 4,760 Coins, Liquidation Price Drops to $1,639 Amid Market Turmoil

In a recent update by COINOTAG News, it was reported on April 3rd that a significant player in the Ethereum market, holding 64,800 ETH, is nearing liquidation. This high-stakes situation has escalated as the whale took action to mitigate losses by deleverage measures eight hours prior, effectively lowering the ETH liquidation price to $1639. In a strategic move, the whale liquidated 4760 ETH, converting these assets into 8.64 million DAI to fulfill repayment obligations. This noteworthy transaction highlights the volatility of the cryptocurrency market and the risks that large holders face during price fluctuations. Market analysts will be observing the trend closely as this event may influence Ethereum’s trading dynamics in the near term.