Whale Deposits $14.5M to Avert $340M Ether Liquidation Amid Market Slump

On April 7, a cryptocurrency whale deposited $14.5 million worth of Ether (ETH) and 3.54 million Dai (DAI) into MakerDAO to prevent the liquidation of a 220,000 ETH position, valued at $340 million. According to Lookonchain, liquidation would have occurred if Ether's price dropped to $1,119.3. This action followed another Ether investor's $106 million liquidation on Sky on April 6, triggered by a 14% ETH price crash. Over the past 24 hours, total liquidations surpassed $1.36 billion, with the largest single liquidation being a $7 million Bitcoin position on OKX.