Hey folks!! ETH is still hovering around 1,900, and that Nasdaq-listed Ethereum treasury company has already cut its losses and sold coins!!!
What CoinDesk spotted yesterday (Nov 13): BTCS said in its quarterly report filed Thursday that it sold ETH below cost to protect a roughly $64.1 million loan on Aave. The company’s official explanation was basically that the sale was meant to proactively manage its collateral and health factor, so the on-chain loan wouldn’t be automatically liquidated.
Based on the figures from Nov 9: the debt was around $64.1 million, including interest, backed by 46,676 ETH. The company valued each coin at $2,127 at the time, putting the collateral at about $99.3 million, with a collateralization ratio of roughly 155%. Using Aave’s estimated liquidation threshold of around 80%, CoinDesk calculated a health factor of about 1.24, with the liquidation price around $1,717～ Just keep in mind, this is an estimate based on the position on Nov 9. The position may have changed since then, and the company hasn’t said exactly how many coins it sold or how much it lost!!!
The cash situation is even more painful: at the end of September, it had only around $463,000 in cash on its books, and the company said that “the vast majority” of its digital assets were tied up on Aave. In other words, it has very little firepower it can freely use, haha. Still, it reported that it had not been fully or partially liquidated as of Nov 11. When this loan was first disclosed in April 2025, it was only around $320,000; by August this year, it had grown to roughly $53 million～
Seriously, don’t assume that “it hasn’t blown up yet” means everything’s safe and you can just call it a day!!! When CoinDesk wrote about it on Friday, ETH was still around $1,950, about 12% above that $1,717 level. I just checked CoinGecko: ETH is around $1,903, nearly flat over the past day, down a little—about 0.3%—and already down roughly 15% for the week. The 24-hour low on Binance futures is still around $1,875. Based on that estimated liquidation level, it’s now only about 10% above it, closer than it was on Friday～ If the position hasn’t changed and it’s still open over the weekend, maybe don’t pile on leverage.
I just checked CoinGecko: Bitcoin is around $67,100, down about 1.4% over the past 24 hours, around 11.5% for the week, and roughly 18% for the month. The low on Binance futures is still around $66,400; it hasn’t broken below the midday level again. BNB is around $620, SOL around $76. XRP is still below a dollar, at about $0.996. The total market cap is around $2.29 trillion, down about 4.3% in a day. The Fear & Greed Index is still at 13: extreme fear～
Sunday’s weekly candle hasn’t closed yet, and Nvidia reports earnings next Tuesday. Until real buying comes back, just don’t chase the spikes!!!
Do you think ETH can hold around 1,900 for now, or will it go back down to test that 1,700 level?
$ETH $BTC
#ETH #Crypto
What CoinDesk spotted yesterday (Nov 13): BTCS said in its quarterly report filed Thursday that it sold ETH below cost to protect a roughly $64.1 million loan on Aave. The company’s official explanation was basically that the sale was meant to proactively manage its collateral and health factor, so the on-chain loan wouldn’t be automatically liquidated.
Based on the figures from Nov 9: the debt was around $64.1 million, including interest, backed by 46,676 ETH. The company valued each coin at $2,127 at the time, putting the collateral at about $99.3 million, with a collateralization ratio of roughly 155%. Using Aave’s estimated liquidation threshold of around 80%, CoinDesk calculated a health factor of about 1.24, with the liquidation price around $1,717～ Just keep in mind, this is an estimate based on the position on Nov 9. The position may have changed since then, and the company hasn’t said exactly how many coins it sold or how much it lost!!!
The cash situation is even more painful: at the end of September, it had only around $463,000 in cash on its books, and the company said that “the vast majority” of its digital assets were tied up on Aave. In other words, it has very little firepower it can freely use, haha. Still, it reported that it had not been fully or partially liquidated as of Nov 11. When this loan was first disclosed in April 2025, it was only around $320,000; by August this year, it had grown to roughly $53 million～
Seriously, don’t assume that “it hasn’t blown up yet” means everything’s safe and you can just call it a day!!! When CoinDesk wrote about it on Friday, ETH was still around $1,950, about 12% above that $1,717 level. I just checked CoinGecko: ETH is around $1,903, nearly flat over the past day, down a little—about 0.3%—and already down roughly 15% for the week. The 24-hour low on Binance futures is still around $1,875. Based on that estimated liquidation level, it’s now only about 10% above it, closer than it was on Friday～ If the position hasn’t changed and it’s still open over the weekend, maybe don’t pile on leverage.
I just checked CoinGecko: Bitcoin is around $67,100, down about 1.4% over the past 24 hours, around 11.5% for the week, and roughly 18% for the month. The low on Binance futures is still around $66,400; it hasn’t broken below the midday level again. BNB is around $620, SOL around $76. XRP is still below a dollar, at about $0.996. The total market cap is around $2.29 trillion, down about 4.3% in a day. The Fear & Greed Index is still at 13: extreme fear～
Sunday’s weekly candle hasn’t closed yet, and Nvidia reports earnings next Tuesday. Until real buying comes back, just don’t chase the spikes!!!
Do you think ETH can hold around 1,900 for now, or will it go back down to test that 1,700 level?
$ETH $BTC
#ETH #Crypto