COINOTAG News reports significant market activity as a prominent investor, referred to as a whale, utilized leverage to acquire 8,613 ETH within the last hour. This transaction is valued at approximately $22.43 million, with an average acquisition price standing at $2,612.33 per ETH. Leveraging their holdings, this whale has collateralized their entire 8,613 ETH to secure a loan of 10 million USDT, reflecting a health factor of 1.86. It is crucial for market participants to monitor this position closely, as a downturn in the ETH market price to $1,399 would activate a liquidation event. Such high-stakes maneuvers underscore the ongoing volatility and the diverse strategies employed by institutional investors in the cryptocurrency ecosystem.
Source: https://en.coinotag.com/breakingnews/whale-leverages-8613-eth-purchase-worth-22-43-million-amidst-risk-of-liquidation/