$ETH plunged to $950 at a certain moment while trading at around $1,200 on the majority of centralized exchanges, here's how it happened
From March 16, 2021, until May 9, 2022, the position backed with almost 130,000 ETH was opened. The investor used it to borrow 80 million DAI. Additionally, the ICO participant funded the lend on Maker DAO with 96,700 ETH.On May 30, the investor decided to increase the leverage by purchasing 24,000 ETH on borrowed funds with the average price of $1,961. With 153,000 ETH in backing, and $126 million DAI borrowed, a participant in the ICO would have faced liquidation at $1,198.
After selling 65,000 ETH, the early Ethereum investor sold another 27,000 to deleverage his position to $500 per ETH liquidation price.
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