PANews reported on January 25th that, according to on-chain analyst Yu Jin, due to the decline in ETH, a whale who had pledged ETH to borrow USDT on Spark has reduced its position in the past two days to ensure the safety of its lending position. To do so, it sold 11,190 ETH (worth 32.83 million USDT) through OKX and then withdrew 26.55 million USDT from OKX to repay its loan. After the reduction, the liquidation price of its ETH position has dropped to $2,268, down from the current price of $667. The whale has pledged 37,400 ETH (worth 110 million USDT) on Spark, along with $62.57 million worth of USDT in loans.
Spark lending whale sold 11,190 ETH, causing the liquidation price to drop to $2,268.
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