In a world where the only thing more volatile than a crypto whale’s emotions is the price of Ethereum, one particularly large fish—let’s call him Sir Flops-a-lot—has found himself in a bit of a pickle. With a staggering $340 million worth of Ethereum (or 220,000 ETH, if you prefer your numbers in a more digestible format), he’s making moves faster than a cat on a hot tin roof.
According to the ever-watchful seers at Lookonchain, our aquatic friend has just deposited over 3 million DAI into the decentralized finance (DeFi) platform Maker (MKR). Why, you ask? To stave off the dreaded liquidation monster, of course! Because nothing says “I’m in control” quite like frantically throwing money at a problem.
“A whale with 220,000 ETH ($340 million) on Maker just repaid 3.52 million DAI and deposited 10,000 ETH—lowering the liquidation price to $1,119.30. If ETH drops to $1,119.30, the 220,000 ETH ($340 million) will be liquidated.”
Meanwhile, other crypto whales are also sweating bullets, staring at their screens like they’re watching a particularly tense episode of a soap opera. One unfortunate soul is facing a $77 million liquidation after the top altcoin decided to take a nosedive into the $1,400 abyss. Talk about a bad hair day!
“As ETH drops below $1,500, this whale is about to be liquidated for 53,074 ETH ($77 million)! If this whale does not increase collateral or repay debt, he will be liquidated for 53,074 ETH ($77 million).”
As the markets continued their dramatic sell-off on Monday, ETH plummeted to a low of $1,431, only to regain some dignity shortly thereafter. It’s currently trading at $1,548, which is down a whopping 11.8% in the last 24 hours. If only it were as easy to regain one’s dignity as it is to lose a fortune!
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2025-04-07 21:42