An Ether investor with a significant position on the decentralized finance (DeFi) lending platform Sky has suffered a liquidation exceeding $100 million as Ether's price sharply declined. On April 6, the price of Ether fell by approximately 14%, leading to the liquidation of 67,570 ETH, valued at around $106 million. The Sky lending protocol allows users to create collateralized debt positions, where they must deposit a minimum of 150% of the amount borrowed in ETH to receive the stablecoin DAI. This whale’s position was liquidated when the collateral ratio fell to 144%. In a related event, another whale holding 56,995 wrapped ETH, worth about $91 million, faced potential liquidation. As ETH prices reached bear market lows of $1,547, the broader crypto market also struggled amidst various economic pressures. Over the past 24 hours, around 320,000 traders faced liquidation totaling almost $1 billion, primarily from ETH positions.

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