PANews reported on July 5 that according to on-chain analyst Yu Jin’s monitoring, whales/institutions are unloading leverage and reducing their positions. This whale/institution, which recently bought the bottom of CRV and realized a loss of $1.04 million (-14%), transferred 11,429 ETH (33.2 million US dollars) to Binance in the last hour.
This whale/institution pledged 53,000 ETH (US$154 million) on Comppund/Aave through three addresses to borrow 107.8 million stablecoins. Currently, the lowest health rate of his borrowing position has reached 1.15, which means that if ETH falls to around US$2,526, his position will reach the liquidation line.
As the price of ETH fell rapidly, he chose to sell part of the ETH to repay the loan to reduce leverage.
