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Bitcoin Whale Escaped by a Thread But Could Still Lose 46 Million: Watch Out for This Price! - Coin Bulletin
As the Bitcoin whale narrowly avoids liquidating its position in the futures market, it hangs by a thread of $46 million.
According to the data of DeBank, the DeFi analytics platform, the large investor with address 0xce…ba42 holds 488.4675 wBTC collateral in the Compound protocol and has debts of 30.96 million USDT and DAI.
The health rate of the investor in question is currently at 1.03. If the Bitcoin price falls below approximately $91,784, this large investor will face liquidation risk with a collateral of 488.4675 wBTC worth approximately $46.22 million.
(# The biggest liquidation in the last 7 months
According to the decentralized finance analysis platform Parsec, a total of 310 million dollars of liquidation occurred within the past 24 hours on the decentralized finance )DeFi( chain. This figure represents the highest liquidation volume seen since August of last year.
The majority of liquidations are caused by Ethereum collateralized loans, while the liquidation volume of Ethereum collateral has reached $181 million. Following Ethereum, there was a liquidation of $49.2 million in Wrapped Bitcoin collateralized loans.
The increasing volatility in the cryptocurrency markets highlights the risks of debt-based investments, and investors are advised to carefully monitor their margin levels.
Large liquidations in the DeFi ecosystem can cause chain reactions and further increase market fluctuations. It is critical for investors to closely monitor market movements and review their risk management strategies.