In a significant move, crypto whale nemorino.eth liquidated 8,424 ETH, valued at $17.9 million, incurring a loss of $2.25 million. Earlier this month, the whale had borrowed stablecoins from Spark to leverage and purchase ETH at an average price of $2,391, anticipating a price rebound. However, as ETH prices failed to sustain the rally and fell back, nemorino.eth decided to cut losses.
The liquidation occurred an hour ago, with the ETH sold at $2,124 per unit. Following the sale, nemorino.eth repaid the borrowed funds and deposited the remaining $11.71 million USDC back into Spark to earn interest.
Whale nemorino.eth Liquidates 8,424 ETH, Incurs $2.25 Million Loss
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