Odaily reported that according to Yujin's analysis, a certain sold 25,800 ETH at a price of 1,853 USDT 5 hours ago to avoid position liquidation and repay leveraged loans. The had previously used leveraged loans to long ETH, buying these ETH at an average price of 3,084 in July 2024. This transaction resulted in a loss of up to 31.75 million on the leveraged ETH purchases. The drop in ETH price has forced some who were longing ETH with leverage to sell ETH to reduce their liquidation line, and these sell-offs have further exacerbated the decline in ETH.