On-chain analytics platform Lookonchain has announced that a major crypto whale’s SUI position is at risk of liquidation.
The whale attracted attention by opening a long position of around $20 million. However, a drop in the SUI price could lead to the liquidation of this position.
According to data shared by Lookonchain, the whale borrowed $14.4 million worth of stablecoins via the Suilend platform by depositing 4.1 million SUI ($19.3 million) and 100,000 sSUI ($470,000). For this large position to be liquidated, the SUI price would only need to drop to $4.56.
Why is the risk of liquidation important?
Positions of this size can often create high volatility in crypto markets. If the SUI price drops to $4.56, the whale’s position will be automatically liquidated, which could put additional selling pressure on the market. Such large liquidations could lead to even larger price declines.
The current market situation of SUI is being closely monitored by investors. The movements of whales and their high leveraged transactions are among the important factors that can lead to sudden price fluctuations in the market.
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