TechFlow reports that on March 11, according to Etherscan monitoring, a whale sold 25,800 ETH at $1,853 each to avoid liquidation, receiving 47.81 million USDT to repay loans.
The investor had originally purchased these ETH in July 2024 at an average price of $3,084 using leverage, resulting in a loss of $31.75 million on this portion alone.
Continued declines in ETH prices have pushed large leveraged long positions—particularly those using circular loan leverage—close to liquidation, forcing holders to sell ETH to lower their liquidation thresholds.
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