The recent dip in the price of Ethereum (ETH) has led to increased liquidation risks for large holders. Whales have been forced to move assets to decentralized lending platforms to cover their positions. Multiple positions have been liquidated, putting additional collateral at risk. Decentralized finance (DeFi) lending platforms are experiencing heightened liquidation activity as whales struggle to maintain their collateral. Some whales have responded to the dip by purchasing more ETH or adding collateral. There was speculation that the Ethereum Foundation was among the whales facing liquidation, but this claim has been dismissed. One whale successfully reduced liquidation risks by adding more ETH to their position. Ethereum's open interest remains subdued, indicating cautious trading behavior. Bybit leads in liquidations, with an accumulation of liquidity in short positions suggesting a potential rally as traders attempt to liquidate these positions.



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