Whale Reduces ETH Position by 11,190 Amid Market Downturn
According to on-chain analyst @Winterism, a major ETH whale has taken action to reduce liquidation risks on the Spark platform amid recent ETH price declines.
The user sold 11,190 ETH (worth $32.83 million) through OKX within two days and transferred $26.55 million back to Spark for debt repayment.
- Liquidation price dropped from previous level to $2,268
- Current ETH price at $1,601, maintaining significant safety margin
- Position still holds 37,400 ETH collateral (worth $110 million)
- Outstanding debt reduced to $62.57 million
Risk Management in Volatile Markets
This strategic position adjustment highlights the importance of collateral management in volatile crypto markets. The proactive deleveraging demonstrates sophisticated risk control practices among large market participants.
Such actions also reflect cautious market sentiment regarding current ETH price movements.