The whale’s $340 million short position faces liquidation if Ether’s price falls below $1,119 amid growing investor fear.
An unidentified cryptocurrency whale injected millions of dollars in emergency capital to avoid a potential liquidation of more than $300 million in Ether as markets slumped amid renewed macroeconomic pressure.
The whale is reportedly close to liquidation on a 220,000 Ether (ETH) position on MakerDAO, a decentralized finance (DeFi) lending platform. To stave off liquidation, the investor deposited 10,000 ETH — worth more than $14.5 million — and 3.54 million Dai (DAI) to raise the position’s liquidation price, blockchain analytics firm Lookonchain said in an April 7 post on X.
Source: Lookonchain
