TechFlow, April 9 — According to Yu Jin's monitoring, the whale [0xa339] who had leveraged ETH via circular loans sold another 5,094 ETH to protect his position. The realized loss on ETH has reached as high as $40 million.
On March 11 during the previous major ETH downturn, he had already sold 25,800 ETH at a loss to lower his liquidation threshold, resulting in a realized loss of $31.75 million.
As ETH continued to decline and approached his liquidation level again, he was forced to sell 5,094 ETH at $1,471 five hours ago, converting them into $7.49 million USDT to repay debt, thereby reducing his liquidation price to $1,246.
The ETH he holds was purchased with leverage at an average price of $3,084 in July 2024. So far, just these two rounds of selling at a loss have led to a realized loss of $40 million. He still holds 30,000 ETH on Aave.
