The community warned of possible liquidations of whale positions in ETH and SOL

The community warned of possible liquidations of whale positions in ETH and SOL

The community has been warned of possible liquidation of whale positions in ETH and SOL

The Solend landing platform team has suggested that the community introduce special margin requirements for large users. The developers have also asked for temporary authority to manage the whale account, which accounts for 95% of all deposits in Solana (SOL) and 86% of loans in USD Coin (USDC).

Earlier, the founder of Solend under the nickname Rooter said that one of the users keeps $170 on the deposit of the platform million in SOL, and also has a $108 million debt position in stablecoins. According to him, the liquidation price of SOL for this participant is $22.27. At the time of writing, the cryptocurrency is trading near $30, according to CoinGecko.

At the moment, quotes have reached the specified value. however, the position was not forcibly closed as Aave exclusively uses the Chainlink USDT/ETH price oracle. The latter assumes a 1% deviation threshold before updating the data, so the price has had time to rise.

At the time of writing, Ethereum is trading above $1000.

The community has warned of potential liquidation of whale positions in ETH and SOL

ETH/USDT Hourly Chart of Binance Exchange. Data: TradingView.

However, not all players were so lucky. For example, on the Liquity landing platform, on June 18, liquidation of a position was recorded for 71,863 ETH at a price of just over $927, according to Dune Analytics.

At the same time, Celsius Network continues to reduce debts on Aave and completely closed the position in LINK on the platform MakerDAO.

Recall, Georgetown University Law Professor Adam Levitin called the bankruptcy of Celsius almost inevitable. 

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