I just noticed an impressive activity on the chain — a whale or perhaps a large institution sold a massive amount of Ethereum to avoid liquidation. We’re talking about 41,800 ETH units sold across 10 different addresses within just 8 hours, worth nearly $94 million. Interestingly, they deposited the proceeds directly into Aave to pay down their debts before reaching the liquidation point.

This is not an isolated event — since the big crash last month, we’ve seen about 58,000 ETH units sold by these entities. And there’s still a huge amount of Ethereum ( around 38,465 units ) held as collateral, with $40 million USDC debt outstanding. It seems that a gradual exit strategy reflects a state of market uncertainty and a clear effort to maintain financial safety.