[As the financial market fluctuates, a whale urgently adjusts its position to cope with risks]
According to reports, an important player in the financial market, the on-chain analyst Yu Jin, known as "a whale", is facing severe challenges recently. As the ETH/BTC exchange rate fell sharply to 0.0449, the long position of the ETH/BTC exchange rate held by the whale has approached the edge of the liquidation line.
In such a tense market environment, a whale had to act quickly to reduce risks. According to on-chain data, he quickly withdrew up to 3,886 ETH (worth about $11.52 million) from Aave, a well-known decentralized financial platform, in the past half hour. He then quickly converted these ETH into 173.3 WBTC (Wrapped Bitcoin, an Ethereum-based BTC token) to repay part of the loan.
Although a whale has taken active measures to reduce risks, his lending health rate currently remains at a dangerous level of 1.01. This means that his assets are almost equal to his liabilities, and he may face the risk of being liquidated if there are further adverse changes in the market.
Therefore, a whale may need to continue selling the ETH in his hands in exchange for more WBTC to repay the loan.
