CandleFocus Crypto Whale Sells 22,746 $ETH for Debt Repayment Amid Price Dip
2024-12-21
Author: Content Editor
A whale in the volatile crypto market has deposited over 22,000 ETH tokens ($77.7 million) to Binance in order to repay debts amid a recent price dip. The whale has been liquidating their ETH holdings to obtain stablecoins and repay debts on DeFi platforms Aave and Spark. This trend of whales liquidating their ETH holdings to pay off debts has been observed as the market experiences a decline, putting pressure on these large holders. The liquidation of ETH tokens also reflects a growing confidence in stablecoins as a way to navigate market uncertainty. The whale has reportedly deposited a total of 31,968 ETH ($122.3 million) to Binance in the past two days, which may prompt more sell-offs by other major token holders.
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