Large Crypto Liquidation Occurs Amid WETH Price Drop

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AI Summary

A substantial liquidation occurred due to a price drop in Wrapped Ether, resulting in a loss of $1.13 million for an address that had staked $2.82 million in WETH.

According to BlockBeats, a significant liquidation event was triggered when the price of Wrapped Ether (WETH) fell to approximately $1,767. The address "0x0fb5...7319" had staked 1,550 WETH, valued at around $2.82 million, to secure loans of 1.5 million USDT and 267,400 DAI. As a result of the price drop, a total of 621.06 WETH, worth approximately $1.13 million, was forcibly liquidated.

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Large Crypto Liquidation Occurs Amid WETH Price Drop

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