- $238,000,000: Ethereum (ETH) whales of Maker on verge of liquidation
- Ether as funding is totally useless, hedge fund supervisor says
As Ethereum (ETH) is touching new native lows, being 44% down in 2025, two notable whale positions on the Maker alternate are shut to an enormous liquidation. ETH/BTC but once more hit multi-year lows, whereas seasoned traders flip extraordinarily bearish on the second largest cryptocurrency.
$238,000,000: Ethereum (ETH) whales of Maker on verge of liquidation
Two whale-size accounts on Maker, a large-scale DeFi, inch nearer to a nine-digit liquidation. Ought to the Ethereum (ETH) value drop by one other 4%, $238 million in Ethereum (ETH) lengthy positions shall be erased. This alarming scenario was observed by Lookonchain, a crypto analysis platform.
The commentary was shared at the moment, March 29, 2025, by the official Lookonchain account on X with 580,000+ followers.
Two whales borrowed Dai (DAI), pledging 125,603 Ethers (ETH) as collateral. At present costs of $1,874 per Ethereum (ETH), well being ratios for each loans dropped to 1.06-1.07, which is extraordinarily near the compelled liquidation stage.
As such, the 2 Maker whales shall be shedding their positions as soon as Ether (ETH) drops to $1,805 and $1,787, respectively, knowledge says.
Ethereum (ETH), the second-largest cryptocurrency, misplaced 6.3% within the final week, increasing its year-to-date losses over a whopping 44%.
Ether as funding is totally useless, hedge fund supervisor says
The Ethereum to Bitcoin (ETH/BTC) fee plunged to 0.02246, which is the bottom since early Might 2020. As such, ETH/BTC is concentrating on five-year lows, being nearly 4x cheaper in comparison with the November 2021 peak.
Traders’ pessimism accelerates as Ethereum (ETH) is near finishing its worst Q1 in years. Macro investor Quinn Thompson, CIO of Lekker Capital macro hedge fund, says it’s over for Ethereum (ETH) as an investing instrument:
Make no mistake, ETH as an funding is totally useless. A $225 billion market cap community that’s seeing declines in transaction exercise, consumer development and charges/revenues. There isn’t a funding case right here. As a community with utility? Sure. As an funding? Completely not.
The distinguished investor admits that Ethereum (ETH) demonstrates large delineation between the expansion of the ecosystem and the worth accrual to its core asset. He opined that the ecosystem development may be contributing to the macro efficiency of Ethereum’s L2s tokens.