A whale/institution holding leveraged ETH has sold 36,900 ETH in the past four days to cut losses.
AI Summary1 min read
TL;DR
A whale/institution sold 36,900 ETH to cut losses, still holds 56,000 ETH with liquidation near current price, and has lost $105 million since buying at higher prices.
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EthereumLayer 1PerlLiQSmart ContractsDecentralized Exchange (DEX) TokenETHwhalelossesliquidationcryptocurrency
PANews reported on February 4th that, according to on-chain analyst Yu Jin, a cluster of whale/institutional addresses holding ETH lending positions recently sold 36,900 ETH through Hyperliquid to stop losses and withdrew 82.36 million USDC to repay loans.
He is currently still cutting his losses: he still holds 56,000 ETH (worth $115 million), and the liquidation price of these ETH borrowed positions is around $2,050, only about $200 away from the current price.
He bought ETH last July at an average price of about $3,363, and has now lost as much as $105 million.