Large Ethereum Whale on Verge of Liquidation as ETH Bloodbath Deepens

Ethereum Whale Nears Liquidation Amid Market Decline

According to @lookonchain, a significant ETH whale is facing imminent liquidation. The trader borrowed $31.4 million in stablecoins against 12,374 ETH, placing their position at risk of liquidation if ETH falls below $2,984.

Fresh Whale Accumulates Crypto

Amidst the market downturn, a new whale has emerged, purchasing 9,425 ETH (over $30 million) today. The whale also acquired a range of altcoins, including BNB, MATIC, and meme coins like Shiba Inu and Dogecoin.

Ethereum Follows Bitcoin's Downward Trend

This week, ETH has declined by over 10%, falling from $3,500 to $3,150. The drop mirrors the recent price decline of Bitcoin, as major players, including miners and long-term holders, continue to sell BTC.

Government Sales Add to Pressure

According to reports, the U.S. and German governments have recently sold substantial amounts of Bitcoin and Ethereum. These sales have further contributed to the market's downward pressure.