Resetting crypto in 3…2…👇

Recently, I wrote about the Ethereum Foundation and their liquidation. So I decided to dive a little deeper into this issue and understand more precisely where this reset in crypto is happening. It turned out to be not so far from the current levels)))

I won't keep you in suspense, the liquidation is around 1,100.$ for Ethereum.

It may seem far away, but there's a quirk on Wall Street: if someone's liquidation price is publicly known, then believe me, you're a very tasty boy whom others will want to rob to the last thread.

So, one huge whale on MakerDAO (this is one of the Foundation's wallets) holds 220,000 ETH (~$340 million). Recently, he added another 10,000 ETH and paid off part of the debt (3.52M DAI) to reduce the liquidation price to $1,119.3.

If Ethereum goes down to that level — this entire position could be liquidated.

That's how it is… it doesn't sound very appetizing, I personally don't believe we'll go down to that level, as deep down I'm still hoping for growth. But if we go down to 1,100 and they don't inject more margin, the crypto will experience a downturn 😊