Ethereum whale loses $106 million on DeFi lending platform Sky

From Cointelegraph

April 7, 2025 01:42 AM:

An Ether investor on DeFi lending platform Sky was liquidated for over $100 million as Ether price crashed by 14%. The Sky lending protocol, previously Maker, allows users to create collateralized debt positions with an overcollateralization ratio of 150% or higher. Another whale supplying 56,995 wrapped ETH worth $91 million was also at risk of liquidation.

ETH prices plummeted 14.5% to $1,547 amid broader crypto market meltdown due to US President Trump’s tariff-induced market sell-off. This is the lowest ETH price since October 2023, down 68% from its all-time high in 2021. CoinGlass reported 320,000 traders liquidated in the past 24 hours, with most being ETH positions.

Read more at Cointelegraph: Ethereum whale gets liquidated $106M on Sky amid crypto bloodbath