A certain whale sold 25800 ETH due to its position being on the brink of liquidation, resulting in a loss of $31.75 million

Odaily Planet Daily News: According to analysis by Yu Jin, a giant whale sold 25800 ETH at a price of 1853 five hours ago to avoid clearing its position, earning 47.81 million USDT to repay its leveraged loan. The whale had previously long ETH through revolving loan leverage and bought these ETH at an average price of 3084 in July 2024. This transaction resulted in a loss of up to 31.75 million on ETH purchased with leverage. The decline in ETH prices has led to some leveraged long positions of ETH being on the brink of liquidation, forcing them to sell ETH to lower the liquidation line, which further exacerbates the decline in ETH.