According to Foresight News, the ETH/BTC exchange rate plummeted to 0.047 following a decline last night. A whale address, which has been long on the ETH/BTC exchange rate since March 2023, faced another liquidation on Aave as its loan health rate fell below 1. This led to the liquidation of 2701 ETH, equivalent to 8.74 million USD, used as collateral to repay a 123.7 WBTC loan.
Currently, the whale's loan health rate on Aave stands at 1.01, still on the brink of liquidation. If the ETH/BTC exchange rate continues to fall, its collateral will continue to be liquidated. It's worth noting that this address has faced liquidation during recent major declines when the ETH/BTC exchange rate fell below its liquidation line.