๐จ A $SUI Whale Faces a Potential $18M Loss! ๐ฅ๐คฏ
Hereโs whatโs happening:
๐ The Whaleโs Position:
Taken a long position on $SUI, betting the price will ๐ increase.
Invested a massive $20M in total.
๐ฐ Collateral Deposited:
4.1M $SUI (worth $19.3M)
100,000 $sSUI (staked SUI, worth $470K)
Deposited into #SuiLend, a decentralized lending platform.
๐ฆ Borrowed Funds:
The whale used this collateral to borrow $14.4M in stablecoins.
โ ๏ธ The Risk: Liquidation Mechanism
If the collateral value drops too low, the platform liquidates it to cover the loan.
Liquidation Threshold: If $SUI's price falls to $4.56 per token, the position will be liquidated.
๐ฅ What Happens if Liquidated?
The platform will sell off the collateral to repay the $14.4M loan.
This could mean huge losses for the whale if the collateral is sold at a price lower than what they owe.
๐ Current Stakes:
With the price of $SUI hovering near the threshold, this whale could lose over $18M if liquidation occurs!
๐ Keep a close watch as this high-stakes drama unfolds in the crypto world! ๐