ETH whale 'Maji' don dey suffer repeated liquidations — losses of about $720k–$1.05M, still get 2,500 ETH
One ETH whale trader wey dem dey call "Maji" suffer plenty waves of liquidation when market drop sudden. Early report show say dem liquidate 22 times inside 24 hours with total loss about $1.047 million and account drawdown near $18.56 million. Later update (wey quote PA News and on-chain analyst Ai Yi) put am for about 6,489 ETH wey dem liquidate — estimated loss about $720,000 — while Maji still get 2,500 ETH long (around $7.79M) with latest liquidation price near $3,074.62 and unrealized loss near $314,000. Dem also talk say trader open high-leverage ETH longs (for example one $340k position at 25× around ~$2,738.76). The combined reports show concentrated risk from big, leveraged ETH positions and how quick cascading liquidations fit happen when price move sharply. For traders: monitor ETH derivative funding and open-interest, watch key liquidation price levels (near $3,074), reduce position size or leverage, and consider liquidity conditions wey fit amplify volatility.
Bearish
Big, concentrated liquidations of leveraged ETH longs dey increase short-term downside pressure on ETH. Di reported events — multiple liquidations totalling thousands of ETH and six-figure losses — show say big leveraged positions still dey vulnerable to price swings. High leverage (report say 25×) and big remaining long exposure (2,500 ETH) dey raise risk of more forced selling if price drop near liquidation levels (~$3,074), wey fit make volatility worse and push price down short-term. For traders, this mean higher tail-risk: less liquidity, possible spikes for funding rates, and faster deleveraging during sudden moves. Long-term, these events no change ETH fundamental adoption story, but repeated liquidation cascades fit shake market confidence and raise volatility until leverage clear and open interest stabilize.