Ethereum Whale Liquidates $42M in DAI to Avoid Forced Liquidation

An anonymous Ethereum whale executed a major transaction, selling 26,881 ETH for a staggering $42.04 million in DAI. This strategic move was likely intended to unwind a leveraged position threatened by mounting liquidation pressure. The whale’s decision highlights the risks of using leverage in volatile crypto markets. Let’s break down this significant Ethereum event and its implications.