[ETH Lending Whale Position Near Liquidation, Cutting Losses to Handle Market Drop] This wave of ETH sell-off with leverage is hitting pretty hard, huh? As ETH drops to the $2,000 mark, another ETH lending whale position is nearing its liquidation line and can’t hold on anymore—starting to cut losses and reduce positions: ◎ He has collateralized 23,800 ETH ($48.56M) on Spark (@sparkdotfi) and borrowed 35.27M DAI. The liquidation price for the position is $1,800. ◎ As ETH drops to the $2,000 mark, he’s now just $250 away from his liquidation price. Forced to start cutting losses and reducing positions: just sold 238 ETH to exchange for 488K DAI for repayment. If the price continues to drop, he’ll have to keep selling ETH to lower the liquidation price. https://(debank.com)/profile/0xfdd86a96f47015d9c457c841e1d52d06ede16a92 --------------------------------------------------------- ｜Bitget VIP, lower fees, crazier perks