According to BlockBeats, on January 25th, EmberCN reported that due to the decline in ETH prices, a whale who had borrowed USDT by staking ETH on Spark reduced its position to ensure its safety. It sold 11,190 ETH worth $32.83 million through OKX and then withdrew 26.55 million USDT from OKX to repay its loan.
After reducing its holdings, the liquidation price of its borrowed ETH positions dropped to $2,268, down from the current price of $667. It had staked 37,400 ETH in Spark, worth $110 million, generating a loan of $62.57 million.
