On June 5, ETH price fell below $1,565, triggering the liquidation of an on-chain leveraged position. According to on-chain analyst Ai Yi, address 0x34d…c4ac1 had 15,131 ETH liquidated, which were swapped for approximately $22.6 million to repay outstanding debt. This address had been running a leveraged long position on ETH, and the price drop pushed its collateral ratio below the required threshold, resulting in forced liquidation.
Following the liquidation, updated liquidation prices for two major leveraged addresses have emerged. Address 0xc3f…931e4 now borrows 58,031.84 ETH with a liquidation price of $1,555.04. Meanwhile, address 0x34d…c4ac1, after having part of its position liquidated, still holds a borrowed amount of 31,537.26 ETH with a lowered liquidation price of $1,458.02. These numbers illustrate the leverage levels and the price points at which further automatic selling could occur. On-chain monitoring provides a transparent lens into the health of leveraged positions, helping the market gauge potential cascading risks.