The recent crypto market downturn has put a major investor at risk of liquidation. The focus is on the $20 million long position in SUI.
The Position of a Major Investor
According to Onchain data, the investor had deposited $4.1 million in SUI and $470,000 in sSUI into Suilend, receiving a $14.4 million stablecoin loan in return. If the SUI price continues below $4.45, the investor might face total asset liquidation.
Impact of Price Changes on the Market
Amidst the decline of the crypto market, this case highlights the volatility and the risks associated with altcoin investments. It is unclear if the investor will add additional funds to prevent potential liquidation.
Current State of SUI
The SUI price has dropped by 9% in the last 24 hours and is currently trading at $4.45. Launched in summer 2023, the altcoin had reached all-time high prices despite the current decline.
This situation underscores the risks of volatile crypto investments. It remains to be seen how the investor will respond to the threat of liquidation.
