Compound

<p>The ongoing plunge of the well-known crypto token $ETH is paving the way for many exclusive developments. As per Lookonchain, a prominent on-chain analytics company, several whales are reportedly moving to see the liquidation of the $ETH tokens they hold because of the ongoing volatility.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr">As the price of <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a> drops, many whales are about to face the liquidation of <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a> deposited in <a href="https://twitter.com/hashtag/Aave?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Aave</a> and <a href="https://twitter.com/hashtag/Compound?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Compound</a>.<br><br>3 whales deposited 28,558 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a>($82.2M) to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Binance</a> in the past 2 hours and sold to repay debt.<a href="https://t.co/4ynPQwessD" target="_blank">https://t.co/4ynPQwessD</a><a href="https://t.co/ABzz0fceAt" target="_blank">https://t.co/ABzz0fceAt</a>… <a href="https://t.co/PNYtFvlnV1" target="_blank">pic.twitter.com/PNYtFvlnV1</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1809108218909765714?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="eth-whales-about-to-see-liquidation">$ETH Whales About to See Liquidation</h2> 
<p>The analytics firm took to its official account on the social media platform X to reveal the exclusive data in this respect. Lookonchain pointed out in its exclusive X post that the potential liquidation is going to take place on a couple of popular crypto exchanges. They take into account Compound and Aave. It disclosed that 3 such whales have taken some significant steps in this regard.</p> 
<p>The market statistics have brought to the front that <a href="https://blockchainreporter.net/price-prediction/ethereum-price-prediction/" data-type="post" data-id="66941">Ethereum</a> has gone through a price decline of up to 10.25%. The respective figure reportedly signifies the biggest one-day price loss since the 9<sup>th</sup> of November in 2022. The downward move also impacted the market capitalization of $ETH. In this respect, the token’s market cap currently stands at $360.89 billion. This figure denotes a dip of 17.62%.</p> 
<h2 class="wp-block-heading" id="the-whales-deposit-28-558-eth-to-binance-for-debt-repayment">The Whales Deposit 28,558 $ETH to Binance for Debt Repayment</h2> 
<p>In the past 24 hours, Ethereum had been changing hands between $2,896.05 and $3,108.66. Moreover, a drop of 12.95% occurred in <a href="https://www.ethereum.org/" target="_blank" rel="noopener">Ethereum’s</a> value over the recent week. In line with such factors, the above-mentioned whales deposited up to 28,558 $ETH tokens to Binance within just two hours. They additionally sold them to these tokens accounting for $82.8 million worth.</p>

ETH Price Drop Triggers Whale Liquidations on Compound and Aave

Table of Contents

BlockchainReporter

Other articles published on Jul 5, 2024

Top 9 Cheap Cryptos With Explosive Growth Potential

FTX Founder Sam Bankman-Fried’s Family Accused Of $100M Illicit Political Donation

$1.04 Billion in Bitcoin Options Expire Today Amid Increased Crypto Whale Sell-Offs

XRP Price Decline To $0.40; Can The Ripple’s New Try It Feature Change That?

Altcoins suffer heavy losses as BTC recedes 8%

Price analysis 7/5: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

Join our free newsletter for daily crypto updates!