$106M Liquidation Shock! $ETH Whale Obliterated on Sky as ETH Plunges to Bear Market Lows
The crypto carnage continues—this time claiming one of Ethereum’s biggest players. In a brutal turn of events, a massive ETH whale just got liquidated for a jaw-dropping $106 million on the DeFi lending platform Sky, as the price of Ethereum crashed violently to $1,544.
⚠️ DeFi Disaster: Whale’s 67,570 ETH Wiped Out in Seconds
The liquidation was triggered after Ethereum nosedived by 14%, dragging the whale’s collateralized debt position below safety thresholds. According to DeFi tracking tools like DeFi Explore and Lookonchain, the liquidation hit when the collateral ratio slipped to 144%—just under Sky’s required threshold.
📉 $ETH at Bear Market Levels: Pain May Not Be Over
With ETH now down 14.5% in a single day, trading around levels not seen since October 2023, the entire DeFi market is under threat. Ethereum is currently down 68% from its 2021 all-time high, and if the blood continues, more whales could face liquidation hell.
Meanwhile, the broader picture is just as grim:
320,000 traders liquidated in the last 24 hours
Nearly $1 billion in losses, mostly on ETH positions, per CoinGlass
Analysts are warning of a “Black Monday” style rerun across crypto and traditional markets alike.
