A whale that pledged ETH to borrow USDT repaid its position and reduced its holdings, selling 11,190 ETH.

According to Mars Finance, on January 25th, EmberCN monitoring revealed that due to the decline in ETH prices, a whale who had borrowed USDT by staking ETH on Spark reduced their holdings to ensure the safety of their position. They sold 11,190 ETH through OKX, worth $32.83 million, and then withdrew 26.55 million USDT from OKX to repay their loan. After the reduction, the liquidation price of their borrowed ETH position dropped to $2,268, $667 away from the current price. They had staked 37,400 ETH on Spark, worth $110 million, resulting in a loan of $62.57 million.