With Ethereum (ETH) touching on new local lows and a 44% decline in 2025, the two notable whale locations in the manufacturer’s exchange are approaching a massive liquidation. ETH/BTC has once again hit a multi-year low, but veteran investors are very bearish with the second-largest cryptocurrency.
$238,000,000: Manufacturer’s Whale (ETH) on the verge of liquidation
Two whale-sized accounts about manufacturers, large defi approaches a nine-digit liquidation. If Ethereum (ETH) prices fall further 4%, the $238 million long position of Ethereum (ETH) will be eliminated. This surprising situation has been noted by the crypto research platform Lookonchain.
As the $eth price drops, the $125,603 (238m) held by these two whales in #maker is once again at risk of liquidation.
Health rates fell to $1.07, with liquidation prices at $1,805 and $1,787, respectively. https://t.co/0qejxgq0lghttps://t.co/sdwfbgfglf pic.twitter.com/ieedztg945555555
– lookonchain (@lookonchain) March 29, 2025
The observation was shared today on March 29, 2025 by X’s official Lookon Chain account with over 580,000 followers.
Two whales borrowed DAI (DAI) and pledged 125,603 ether (ETH) as collateral. At the current price of $1,874 per Ethereum (ETH), the health ratio for both loans has dropped to 1.06-1.07. This is very close to the forced liquidation level.
So the two maker whales will lose their position when their ether (ETH) drops to $1,805 and $1,787, respectively, data says.
Ethereum (ETH), the second largest cryptocurrency, lost 6.3% last week, expanding its losses since the start of the year to a whopping 44%.
Ether is completely dead so hedge fund manager says
The Ethereum-to-BTC rate plummeted to 0.02246. This is the lowest since early May 2020. Therefore, ETH/BTC is targeting the five-year low, almost four times cheaper than the November 2021 peak.
Investor pessimism is accelerating as Ethereum (ETH) closes to completing its worst first quarter in years. Macro Investor Quinn Thompson, CIO of tow-capital macro hedge funds, says Ethereum (ETH) has ended as an investment vehicle.
No doubt, ETH because the investment is completely dead. A $225 billion market capitalization network with declining trading activities, user growth and fees/revenue. There are no investment litigations here. As a network of utility? yes. As an investment? It’s definitely not.
Notable investors acknowledge that Ethereum (ETH) presents a major portrayal between ecosystem growth and the value arising to its core assets. He said that ecosystem growth may contribute to the macro performance of Ethereum’s L2S tokens.
