On March 29, on-chain analyst Yu Jin's data shows that two large whales are facing liquidation risks as ETH price drops sharply. One whale holding 64,793 ETH is just $100 away from the liquidation price, while another whale has borrowed 75.69 million Dai with a liquidation price of $1,805, currently only $80 below the current ETH price.

First Whale: 64,793 ETH on the Verge of Liquidation

On March 11, when ETH price plummeted, this 64,793 ETH position approached the liquidation level. To avoid liquidation, the whale repaid debt and reduced its position, temporarily maintaining a safe status. Subsequently, due to ETH's recovery, this position temporarily escaped liquidation risk without needing to add margin, reduce scale, or adjust the liquidation price.

However, currently, as ETH price tends to decline again, this position is once more facing liquidation risk. If ETH drops by an additional $100, this position will be officially liquidated, potentially causing a significant market impact.

Wallet Link: Portfolio of 0xab7b…2313 | DeBank

Second Whale: 60,810 ETH Pledged, Just $80 Away from Liquidation Price

Additionally, analyst Yu Jin discovered another whale who borrowed 75.69 million Dai by pledging 60,810 ETH. The initial liquidation price for this position was $1,805. Currently, ETH only needs to drop by less than $80 to trigger liquidation, placing the whale in an extremely risky situation.

Wallet Link: Portfolio of 0x6bb8…30b3 | DeBank

Both large whales approaching their liquidation prices could create a chain reaction, especially if one of the positions is liquidated, potentially driving ETH price even lower. Investors need to closely monitor ETH price developments to assess the potential impact of these liquidations on the market.