Ethereum Drop Triggers Major Whale Liquidation
On January 31, data from monitoring platform Onchain Lens revealed that a whale investor faced full liquidation after Ethereum's price dropped to $2,600, resulting in losses amounting to $61.38 million.
Overview of the Massive Loss
Prior to this event, the investor had accumulated profits of around $61 million. However, the recent market fluctuation erased all gains, leading to a total account loss exceeding $10.76 million.
- Event Date: January 31
- Cause of Liquidation: Ethereum's price dropped to $2,600
- Loss Amount: $61.38 million
Warning About Market Volatility
This incident serves as a reminder that in the cryptocurrency market, sharp price swings can lead to significant risks, especially for leveraged positions, which should be approached with caution to avoid forced liquidation during downturns.