On-chain analyst Yu Jin has detected that a large Ethereum leveraged whale has just been liquidated. The address was forced to close 15,042 ETH in order to repay a debt of 22,150,000 USDT, according to monitoring data.
The liquidation occurred amid market fluctuations, indicating that the whale had taken on excessive leverage and could no longer meet margin requirements. On-chain data shows that the collateral has been taken over by the lending protocol and used to cover the borrowings, completely wiping out the whale's leveraged position.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.