Whale at Risk: 67,000 ETH on the Brink of Liquidation as Price Drops Again

On March 29th, COINOTAG News reported that a significant player in the Ethereum market, referred to as a whale, is facing potential liquidation of a 67,000 ETH stake. According to on-chain analyst Yu Jin, the current liquidation threshold is perilously close, with just $100 separating this whale from a forced sell-off. Previously, on March 11th, this large position was similarly imperiled due to a decline in ETH prices, but effective repayment and deleveraging strategies enabled it to avert liquidation. Although a subsequent recovery in ETH prices alleviated immediate concerns, the whale did not take further protective measures, such as enhancing collateral or further deleveraging to mitigate risks. As Ethereum experiences another downward trend, the looming $100 price decrease could trigger significant market movements, highlighting the volatility and risks associated with large cryptocurrency holdings.