Ethereum Whale Loses $100 Million as Market Crash Triggers Massive Liquidation
An Ethereum whale has taken a massive financial hit, losing over $100 million after the cryptocurrency’s price plunged by 14% on April 6.
The investor’s collateralized debt position on Sky, a DeFi lending platform, was liquidated when ETH fell to around $1,547. The liquidation involved 67,570 ETH, valued at approximately $106 million.
Sky, previously known as Maker, operates as a DeFi protocol where users can lock up crypto as collateral to borrow DAI.
The platform requires a minimum overcollateralization ratio of 150%, and if the value of the collateral falls below this threshold, liquidation occurs. In this case, the ratio dropped to 144%, triggering the sale of the collateral.
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Another large ETH holder, who had supplied 56,995 wrapped ETH worth about $91 million, is also at risk of liquidation. The recent crash has sparked broader market concerns, with Ether now down 68% from its all-time high in 2021.
CoinGlass data shows nearly 320,000 traders were liquidated in the past 24 hours, losing almost $1 billion. Most of these liquidations involved Ether, highlighting the impact of the sudden market drop driven by recent U.S. tariff news.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
