Ethereum whale faces a $106 million liquidation as ETH fell over 20%
This liquidation comes after a sharp price drop of over 10% on Sunday evening, with Ethereum (ETH) falling from above $1,800 to about $1,500. This market crash was influenced by renewed selling pressure, particularly after the US stock market faced declines.
was influenced by renewed selling pressure, particularly after the US stock market faced declines.
President Trump‘s aggressive tariffs also contributed to a bearish sentiment, causing Bitcoin to drop below $75,000. BTC is trading at around $74,899 at the time of writing.
The overall crypto market cap decreased by approximately 18%, bringing it down to $2.6 trillion. Other major cryptocurrencies also experienced losses. XRP fell by 18% to below $1.7, while BNB dropped 10% to $529. Solana, Dogecoin, and Cardano each saw declines of around 19%. Among the major cryptos, TRON is one of the only coins to hold up during this crash.
On the other hand, the ETH/BTC trading pair reached its lowest level since March 2020, at 0.021 on April 6. Additionally, another investor panic-sold 14,014 ETH, valued at about $22 million, during the same period.
Despite the market crash, some major investors are jumping on the opportunity to buy more cryptocurrencies. One whale, known as “7 Siblings,” bought 24,817 ETH for around $42 million, increasing their total holdings to over 1.2 million ETH, worth around $1.9 billion.
