To stave off liquidation, the investor deposited 10,000 ETH — worth more than $14.5 million — and 3.54 million Dai (DAI) to raise the position’s liquidation price, blockchain analytics firm Lookonchain said in an April 7 post on X.“If $ETH drops to $1,119.3, the 220,000 $ETH($340M) will be liquidated.”Source: LookonchainThe development came hours after another Ether investor was liquidated for over $106 million on the decentralized finance (DeFi) lending platform Sky.
Related: Smart money still hunting for memecoins despite end of ‘supercycle’Crypto markets crash after Trump’s tariff announcement, but 70% recovery chance by JuneUS President Donald Trump announced his reciprocal import tariffs on April 2, which sent tremors across global markets, leading to a $5 trillion loss by the S&P 500, its largest two-day drop on record.
Still, the tariff announcement may finally end the global uncertainty plaguing traditional and digital markets for the past two months.“In my opinion, the tariffs are the representation of the uncertainty in the markets,” Michaël van de Poppe, founder of MN Consultancy, told Cointelegraph.“Liberation Day is basically the peak of that period, the climax of uncertainty.
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Author / Journalist: Cointelegraph by Zoltan Vardai
The story "Whale makes $14M Ether emergency deposit to avoid $340M liquidation" has 430 words across 17 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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