According to on-chain analyst Ember, due to the decline in ETH, a whale who had pledged ETH to borrow USDT on Spark has reduced its position in the past two days to ensure the safety of its lending position. It sold 11,190 ETH (worth 32.83 million USDT) through OKX and then withdrew 26.55 million USDT from OKX to repay the loan. After the reduction, the liquidation price of its ETH position has dropped to $2,268, close to the current price of $667. It had 37,400 ETH (worth 110 million USDT) pledged on Spark, along with $62.57 million worth of USDT borrowed.