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A Whale's position of 263 million is nearing liquidation, having been forced to sell 1,316.8 ETH.
According to ChainCatcher news, analyst Yu Jin has monitored that a whale investor who has accumulated a large amount of crypto assets through circular loans is facing severe liquidation risks. On-chain data shows that this investor accumulated WBTC and ETH worth $263 million in the past three months, but the recent market decline has pushed their position to the brink of liquidation. To avoid forced liquidation, this investor was recently forced to sell 1,316.8 ETH, exchanging it for 4.017 million USDT to repay part of their debt. Nevertheless, they still have as much as $146 million in USDT loans on the Aave platform, with a position health ratio of only 1.05. Data indicates that this whale's cost for crypto assets is quite high: the average price of WBTC is $116,762, and the average price of ETH is $4,415, with an unrealized loss of about $65.49 million currently. If Bitcoin and Ethereum fall another 5%, their position will face forced liquidation, with collateral being partially sold to repay debts.