$26.5M in WBTC at Risk of Liquidation!

Author: Mustafa Mulla

Mustafa Mulla

Author

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Sep 7, 2024 18:44

Whale activity in the Bitcoin and altcoin markets never fails to surprise, especially when they make huge gains or face major liquidation threats. Right now, a massive Bitcoin whale is on the edge of liquidating 488.45 $WBTC (about $26 million) on Compound. According to Lookonchain, this whale’s health rate plummets to 1.07, and the liquidation price is set at $50,429. This isn’t the first time this address has been hit hard; during the 2022 crypto crash, it was liquidated three times, losing approximately $32.8 million in assets.