With the recent decline in the cryptocurrency market, a crypto whale appears to be about to undergo a serious liquidation.
According to Onchain data, a crypto whale has come close to the brink with a $20 million SUI long position. The crypto whale in question had recently deposited $4.1 million worth of SUI and $470,000 worth of sSUI into Suilend, in exchange for a $14.4 million stablecoin loan.
With a serious decline in the cryptocurrency market led by altcoins, this crypto whale will be completely liquidated if the SUI price drops below $4.45.
It is not yet known whether the crypto whale will add new funds to prevent his position from being liquidated.
The SUI price has dropped by around 9% in the last 24 hours and is trading at $4.45 at the time of writing.
SUI, which is among the largest altcoins in the world with a market value of $ 13.38 billion, was launched in the summer of 2023 and attracted a lot of attention. The altcoin rose to its all-time high price level two days ago.
*This is not investment advice.
