Liquidation Danger Looms After Recent Altcoin Declines – $238 Million Could Vaporize If Price Falls To This Level

Following another downward trend in the cryptocurrency market, two major whales faced the threat of liquidation.

Onchain data provided by LookOnChain has revealed that the liquidation risk of two whale vaults on Maker has increased as the price of Ethereum (ETH) has fallen. The data shows that the two whales hold 125,603 ETH, or approximately $238 million, and these assets are now at liquidation risk.

The health ratio of whales’ positions has dropped to 1.07, and if the ETH price drops to $1,805 and $1,787 respectively, these whales will be liquidated if they do not add additional funds.

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At the time of writing, Ethereum is trading at $1,875. The world’s largest altcoin, which has spent a significant portion of this week above $2,000, could face high volatility if these liquidations occur.

The ETH price has dropped to a low of $1,804 this month. On the other hand, the Bitcoin price is trading at $83,600, just above the important support level of $80,000.

*This is not investment advice.

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