Key Takeaways
- An Ethereum whale faced a $106 million liquidation as ETH fell over 10%.
- Ethereum’s drop was part of a broader crypto market downturn impacting BTC, XRP, BNB, and others.
A whale saw a massive amount of their Ethereum — 67,570 units worth around $106 million — liquidated on Maker following a sharp price drop exceeding 10% on Sunday evening, which saw ETH fall from above $1,800 to around $1,500, as reported by Lookonchain.
The crypto market has faced renewed selling pressure after showing resilience on Friday amid US stock market declines. Bearish sentiment fueled by President Trump’s aggressive tariffs sent Bitcoin tumbling below $78,000, according to CoinGecko.
The crypto market decline extended beyond Bitcoin and Ethereum, with the total crypto market cap dropping approximately 8% to $2.6 trillion.
In the last 24 hours, XRP declined 10% to below $1.9, while BNB fell 5% to $562. Solana, Dogecoin, and Cardano each dropped approximately 11%. TRON showed relatively smaller losses at 2%.
As a result of the recent decline, the ETH/BTC trading pair reached 0.021 on April 6, marking its lowest level since March 2020.
In a separate report, Lookonchain revealed that another investor panic-sold 14,014 ETH, worth approximately $22 million, this evening.
Despite the current market turbulence, some whales are viewing the dip as an opportunity to accumulate more ETH.
A whale widely known as “7 Siblings” recently acquired 24,817 for around $42 million, Lookonchain reported, boosting their total holdings to over 1.2 million ETH, which is now valued at approximately $1.9 billion.
Since February 3, this investor has spent almost $230 million to buy 103,543 ETH, currently facing a loss of $64 million on their accumulated coins.
IntoTheBlock reported earlier this week that whales accumulated 130,000 ETH on Thursday when the second-largest crypto asset plunged below $1,800 in the first trading session post-tariff announcement.
