COINOTAG reported on March 11th that a significant crypto whale holding 65,675 ETH in Maker is facing precarious market conditions, with the liquidation price alarmingly close—just $50 above the current Ethereum price. This institution acquired the ETH primarily in May 2022 through a revolving loan, with an average purchase price of approximately $2,088. Presently, the estimated loss for this whale exceeds $14 million, underscoring the volatility of cryptocurrency investments.
Earlier today, this whale increased its holdings by an additional 2,000 ETH, resulting in a temporary rise of the health factor to 1.07. However, the persistent pressure on the price of Ethereum raises concerns about potential further liquidations in the near term. Investors and analysts alike should closely monitor these developments, as they may have wider implications for the crypto market.