As the market declines, a whale holding a long position in Ethereum($ETH ) gets liquidated. He had deposited 12,734 ETH (worth $40 million) to Compound and borrowed $31.4 million in stable coins, with a health rate of only 1.06. When the price of ETH dropped to $2,984, he faced liquidation. With $ETH currently trading at $2,866, liquidation has occurred due to the price drop