Shit is Gettin’Real lets pray for him

With the price of $ETH dropping below $1,800, one whale faced liquidation risk, holding 67,675 ETH worth $121.8 million as collateral against a loan. As the price approached the liquidation level, they attempted to avoid a loss by depositing an additional 2,000 ETH (worth $3.73 million) and repaying 1.54 million DAI of their debts, which reduced the liquidation price to $1,836.43. However, despite this, the ETH price continued to fall below this level, meaning that the collateral they provided became insufficient, leading to the automatic liquidation of their position to repay the debt, incurring massive losses. This is a clear example of how dangerous trading with leverage can be in a volatile market!

#ETH #Ethereum #MtGoxTransfers #ETHWhaleLiquidation #BTC
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