On April 7th, COINOTAG reported a significant event in the cryptocurrency landscape as on-chain data analyst Yu Jin highlighted a notable **whale liquidation**. The decline in the Ethereum market saw a prominent address liquidated, with **67,500 ETH** (approximately **$105 million**) in loans entirely wiped out amid ETH’s plunge to around **$1,650**. This forced liquidation not only reflects the volatile nature of the crypto market but also illustrates the risks associated with high-leverage positions.
Interestingly, the impacted whale attempted to mitigate risk by adding **2,160 ETH** as collateral at 1 am, aiming to reduce their liquidation threshold. However, this effort proved futile as the liquidation occurred around 6 am, resulting in the repayment of a substantial **$74.4 million DAI loan**. This situation underscores the inherent risks of leveraging assets in a volatile market, serving as a cautionary tale for investors navigating the crypto space.