Market correction has led to Ethereum-kite elimination of $ 106 million

Great Ethereum holder has been forced to close a position of 67 570 ETH ($ 106 million) on SKY Defi Platform after falling The liquidation threshold.

As $ Eth PlumMeted, The 67.570 $ ETH ($ 106m) Held by This Whale on #maker Was Liquidated! Https: //t.co/kxskkh1h0p pic.twitter.com/idjzbq8p3z

– Lookonchain (@lookonchain) April 7, 2025

The catalyst was the collapse of the price of the second in capitalization of cryptocurrency by 12.5% ​​in the evening of April 6. The next day, the quotation has already lost 9%, having failed $ 1500.

ETH/USDT Day Graph Binance: TradingView.

In the event of liquidation, Sky will confiscate coins in providing them for their implementation at auction to return the DAI loan plus commissions. Any amount remaining after covering the obligations is returned to the platform to the user. In the future, the protocol burns the resulting steiblcoins, reducing the emission.

According to Defi Llama, Sky has a user with $ 79.4 million, which can be forcibly closed if the oracles fix the price of Ethereum below $ 1495.

Source: defi llama.

According to Coinglass, over 440,000 traders per $ 1.36 billion have been eliminated over the past 24 hours, including $ 388.9 million in the second capitalization of cryptocurrency.

Recall that in August 2024, Makerdao held a rebranding in Sky.

In March 2025, Lookonchain found a forced closure of 67,675 ETH ($ 121.8 million). The user has made 2000 ETH ($ 3.73 million) and 1.54 million DAI to reduce the liquidation level to $ 1836.43, but quoted in the spot market went below this threshold.

The gun