According to a crypto analyst, this whale who collateralized ETH to borrow USDT took proactive measures to safeguard their position. Over the past two days, the whale sold 11,190 ETH, valued at approximately $32.83 million, through the OKX exchange. Following the sale, they withdrew 26.55 million USDT from OKX to repay part of their loan on Spark. This move lowered the liquidation price of the remaining ETH position to $2,268, creating a buffer of about $667 from the current ETH price at the time of the report.
Such whale activities often signal broader market sentiments, potentially influencing ETH trading volumes and price movements as traders monitor these large-scale adjustments for signs of capitulation or accumulation. These actions illustrate how large holders manage collateral and loans on major venues, potentially shaping near-term liquidity and risk in the ETH market.
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