A significant Ethereum whale suffered a substantial loss of over $100 million on April 6th when the price of ETH plummeted. The investor, who held 67,570 ETH (worth approximately $106 million) deposited with Sky DeFi, found their collateral ratio insufficient to meet Sky’s 150% overcollateralization requirement as ETH prices dropped sharply. This triggered an automated liquidation process by Sky, resulting in the seizure and auctioning of their ETH holdings to cover outstanding debt and fees. The event has sparked discussion within the DeFi community. Another whale reportedly teetered on the brink of liquidation, with around 57,000 wrapped ETH (valued at approximately $91 million) also at risk. The market now anticipates a domino effect across other leveraged positions.