On June 6, according to BlockBeats, on-chain monitoring account “Ember” detected the liquidation of an ETH leveraged whale. The whale had a total of 15,042 ETH forcibly sold to repay a debt of 22.15 million USDT. On-chain leveraged whales typically use ETH as collateral to borrow USDT from DeFi lending protocols. When the collateral value drops below the liquidation threshold due to price declines, the protocol automatically sells the collateral to repay the loan. This large-scale liquidation reflects the impact of market volatility on highly leveraged positions.
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