A giant whale sold off 8424 ETH an hour ago, incurring a loss of $2.25 million.

On May 22, according to on-chain analyst Ember, the giant whale nemorino.eth liquidated 8,424 ETH ($17.9 million) an hour ago, incurring a loss of $2.25 million. At the beginning of the month, when ETH rebounded, they borrowed stablecoins from Spark and leveraged up to buy ETH at an average cost of $2,391. Subsequently, ETH failed to continue its rebound and fell back. Today, they retrieved 8,424 ETH from Spark and liquidated their position at $2,124. After repaying the loan, they deposited the remaining 11.71 million USDC back into Spark to earn interest.