After another wave of get dumped in the Crypto currency market, two major whales faced a liquidation threat.
Onchain data provided by LookOnChain revealed that the liquidation risk of two whale vaults on Maker has increased with the drop in the price of Ethereum (ETH). The data shows that the two whales hold assets worth 125,603 ETH, which is approximately 238 million dollars, and these assets are now at liquidation risk.
The health ratio of whales’ positions has dropped to 1.07, and if the price of ETH falls to 1,805 dollars and 1,787 dollars respectively, these whales will be liquidated unless they add additional funds.
At the time this article was written, the price of Ethereum is trading at $1,875. The world’s largest altcoin, which spent a significant part of this week above $2,000, could face high volatility if these liquidations occur.
This month, the price of ETH had declined to a low of $1,804. On the other hand, the price of Bitcoin is trading at $83,600, just above an important support level of $80,000.
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