Crypto Giant Saves Millions as Ethereum Faces Liquidation Threat

A major cryptocurrency whale averted a $300 million Ether (ETH) liquidation on MakerDAO amidst market turmoil triggered by recent geopolitical events and crypto price drops. Blockchain analytics firm Lookonchain revealed that this anonymous investor, holding 220,000 ETH in collateral, injected over $14.5 million into the platform to cover potential losses and prevent a total liquidation of their position. As ETH prices plummeted following a 14% drop on April 6th, they faced imminent liquidation risks, prompting the swift action.