CRYPTO MARKET ALERT: ETH WHALE AT RISK OF LIQUIDATION!
A significant Ethereum whale is at risk of liquidation due to the market downturn. According to Lookonchain, a blockchain analysis platform, the whale has taken a long position in Ethereum worth $40 million (12,734 ETH) on Compound, a decentralized lending protocol. The whale borrowed $31.4 million in stablecoins, using the Ethereum as collateral. If the Ethereum price drops to $2,984, the whale's position will be liquidated. The Ethereum price has fallen 4.9% in the last 24 hours to $3,137, according to CoinGecko, resulting in $293.9 million in liquidations, with $259 million of those being long positions, as reported by Coinglass.
