A certain whale sold 18,517 ETH at a loss of 25.29 million dollars to avoid liquidation

According to on-chain analyst Yu Jin (@EmberCN), a whale who had been hoarding WBTC and ETH through a circular loan to avoid liquidation sold off 18,517 ETH in a fire sale over two days, worth approximately $56.45 million, realizing a loss of $25.29 million.

After liquidating ETH, the whale still holds 1,560 WBTC, with a cost basis of $116,762, currently facing an unrealized loss of $41.12 million.