Over $130M ETH sold in six hours
A piece of evidence noted that the whale sold its ETH holdings to pay off nearly $73 million worth of debt at Oasis.app, a DeFi lending platform. The duration of the sell-off saw ETH’s liquidation price dropping from $1,200 to $875.
— mariano.eth ✨ᕙ༼ຈل͜ຈ༽ᕗ✨ | (@nanexcool) June 13, 2022
The Oasis borrower continued the selling spree—dumping another stash of nearly 28,000 ETH five hours after the first selloff—to pay back another $32 million in debt. This time, the liquidation price rose from $892 to $1,200, as shown below.
As a result, the whale dumped around 93,000 ETH within just six hours. The amount equals toroughly $112 million at June 13’s ETH/USD price.
Interestingly, the Oasis borrower’s total outstanding debt was about $120 million (as measured in DAI stablecoin), suggesting that the whale suffered heavy “slippage” losses.
wtf… was this a misclick? https://t.co/POURtN4F6s
— Jonathan Howard (@staringispolite) June 13, 2022
Ether price eyes $667 — veteran…