This wave of ETH liquidation with leverage is quite intense. As ETH drops to the $2K mark, another ETH lending whale's position is nearing the liquidation line, unable to hold on and starting to cut losses:

◎ He has pledged 23,800 ETH ($48.56 million) on Spark and borrowed 35.27 million DAI. The liquidation price of the position is $1,800.

◎ As ETH drops to the $2K mark, it is only $250 away from his liquidation price, and he is forced to start cutting losses: he just sold 238 ETH for 488,000 DAI to repay.

If it continues to drop, he can only continue to sell ETH to lower the liquidation price.

Address: 0xfdd86a96f47015d9c457c841e1d52d06ede16a92