TechFlow reports, according to on-chain analyst Yujin's monitoring, as the price continued to drop at 4:00 AM, the ETH/BTC exchange rate fell to 0.046. A whale who was long on the ETH/BTC rate had their borrowing health factor on Aave fall below 1 again, triggering liquidation: 4,539.7 ETH (worth $13.52 million) was liquidated to repay 203 WBTC loans.
Since the address started being liquidated yesterday morning, there has been no activity—no additional collateral added, nor any active deleveraging. The position has simply been left to be liquidated by the platform as the market declined.
The borrowing health factor on Aave remains precariously close to the liquidation threshold at 1.01. If the ETH/BTC exchange rate continues to fall, more of this address’s collateral will be liquidated.
