A massive Ethereum whale has suffered a staggering $106 million loss after 67,570 ETH was liquidated on MakerDAO, triggered by Ethereum’s double-digit price drop. The ETH price plunged over 10%, falling from above $1,800 to nearly $1,500 in just hours on Sunday evening, as reported by Lookonchain.
This high-profile liquidation underscores the increased volatility and bearish sentiment sweeping through the cryptocurrency market following global macroeconomic tensions, notably new aggressive tariffs announced by President Donald Trump.
Market-Wide Selloff Driven by Global Turbulence
According to data from CoinGecko, the broader crypto market cap fell by around 8%, dropping to $2.6 trillion. The Bitcoin price (BTC) fell below $78,000, adding fuel to the market’s bearish fire. Ethereum wasn’t alone in its losses:
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XRP plunged 10%, now trading below $1.90
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BNB dropped 5% to $562
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Solana, Dogecoin, and Cardano each saw losses of around 11%
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TRON (TRX) showed resilience, only slipping 2%
The ETH/BTC pair hit a new low of 0.021 on April 6, marking its weakest ratio since March 2020, further highlighting Ethereum’s underperformance against Bitcoin.
Panic Selling Hits the Market—But Some Whales Keep Buying
In another sign of turmoil, a separate whale panic-sold 14,014 ETH, worth roughly $22 million, during the price dip, Lookonchain confirmed.
Yet not all whales are retreating. One well-known Ethereum whale, dubbed “7 Siblings”, has been actively buying the dip. Lookonchain revealed that this investor recently acquired 24,817 ETH for $42 million, raising their total holdings to over 1.2 million ETH, now valued at around $1.9 billion.
Since February 3, this whale has spent $230 million to acquire 103,543 ETH, though they are currently facing an unrealized loss of $64 million on their holdings.
IntoTheBlock Confirms Whale Accumulation Amid ETH Decline
Despite market panic, IntoTheBlock reported that whales accumulated 130,000 ETH on Thursday, just as Ethereum briefly dropped below $1,800 following the tariff-related selloff. This accumulation trend signals that major players may still have long-term confidence in Ethereum despite short-term volatility.
The sudden crash and large liquidations reflect the fragile state of the current crypto market, where news-driven moves and over-leveraged positions can trigger rapid downturns—or open opportunities for bold investors.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
