According to ChainCatcher, as monitored by @EmberCN, the ETH price plummeted sharply. A whale who was long ETH through a circular loan sold 5,094 ETH again to avoid liquidation, exchanging them at an average price of $1,471 for approximately $7.49 million USDT to repay the loan and lowered the liquidation price of the Aave position to $1,246.
Previously, on March 11, the same whale had sold 25,800 ETH during an ETH price drop, realizing a loss of up to $31.75 million in a single transaction. The two operations have cumulatively resulted in a realized loss of about $40 million on ETH.
It is reported that the whale established a leveraged ETH position at an average price of $3,084 in July 2024 and still holds approximately 30,000 ETH on Aave, with risks remaining high.
