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A certain Whale's position of 263 million is on the verge of liquidation, having been forced to sell 1,316.8 ETH.
According to a report from 深潮 TechFlow on November 18, analyst Yu Jin has monitored that a whale investor who has accumulated a large amount of crypto assets through circular lending is facing severe liquidation risks. On-chain data shows that this investor has accumulated $263 million worth of WBTC and ETH over the past three months, but the recent continuous market fall has pushed their position to the brink of liquidation.
To avoid being forcibly liquidated, the investor was recently forced to sell 1,316.8 ETH in exchange for 4.017 million USDT to repay part of the debt. Nevertheless, they still have up to 146 million USDT in loans on the Aave platform, with a position health ratio of only 1.05.
Data shows that the Whale's cost of encryption assets is quite high: WBTC average price 116,762 USD, ETH average price 4,415 USD, currently facing an unrealized loss of about 65.49 million USD. If Bitcoin and Ethereum fall another 5%, its Position will face forced liquidation, and collateral will be partially sold to repay the debt.