Whale Sells 238 ETH for 488,000 DAI to Reduce Leveraged Position as Ethereum Nears $2,000

A whale sold 238 ETH for 488,000 DAI on Feb. 5 to repay part of a loan as Ethereum traded near $2,000, Ember monitoring data cited by BlockBeats show. The investor had deposited 23,800 ETH, worth about $48.56 million, to borrow 35.27 million DAI with a liquidation price of $1,800. With the market price only $250 above the liquidation threshold, the whale reduced risk by using the converted DAI for repayment.