PANews reported on February 6th that, according to on-chain analyst Yu Jin, a whale holding ETH lending positions on Spark began selling ETH at $2,050 last night to cut its losses. After a night of stop-loss, it sold 27,800 ETH to repay a $44.14 million loan.

The whale still has 9,810 ETH ($18.66 million) remaining on Spark, with a loan of 12.83 million DAI. The liquidation price for the remaining position has dropped from $1,800 yesterday to $1,560 now.