If ETH drops by 1.7%, it will be close to the clearing price of crypto whale ...

Huang Li is $95 million closer to the Ethereum Giant Clearing Zone

On September 28, BlockBeats reported that ETH was trading at $2,656.9 as monitored by TradingBeats. The five million-dollar multihead total holdings were around $32.129.00, and the clearing price was concentrated between $2613.9 and $2631.6, only about 0.95% to 1.62% from today's prices. This means that if ETH fell back about 1.7%, it would touch several giant brick settlement areas, tens of millions of dollars in overstocked or 9500,000 orders for ETH prior to Zhao Jiaxing being liquidated.

The closest clearing zone is less than 1.1% from the current price.

The data on the chain divides risk into several layers. The most recent clearing zone is located between $2,628.59 and $2,631.62, covering three giants, totaling about $8,868,000 in overpriced positions, which are approximately 0.95% to 1.07% of the current price at 0xb1da, 0xdbbd, and0xd83c respectively. This zone is the trigger band closest to today's prices; if ETH rebounds slightly from around $2,656.9, it may first be exposed to forced close-out pressure.

Further down, there is another $3.055 million of over-the-counter liquidation risk in the vicinity of $2622.42, about 1.30% off current price at 0x0884. This area has a smaller amount compared to the previous layer but is located closer to five giant addresses below the clearing price.

Maximum single clearing line approaches warehouse cost

The largest single liquidation line was $2,613.89, corresponding to a surplus of about $20.5 million, or 62.9% of the five-address position at 0xcd98. It is approximately 1.62 percent off current prices.

This set of data indicates that the five million-dollar tier multihead risk is not evenly distributed. $8,868,000 is concentrated in the nearest layer, with $3,055,000 located in the middle and $20,50,000 pressed down along the bottom line. If prices move progressively lower, the chain may see continuous settlement rather than a single trigger.

Huang's $95 million portfolio is further down.

Huang Lijian currently holds a $95 million ETH order at the liquidation price of $2,555, with a floating loss of $62.4 million, which was previously scheduled to close above $2,670. Compared to the five giant addresses mentioned above, Huanglijian has larger position amounts but is farther away from the current clearing price of $2656.9. Therefore, if short-term prices fall back by only 0.95% to 1.62%, it may first trigger multi-head liquidation of Giant rather than directly touching HuangLijian's settlement line.

However, this does not mean that a larger position is less risky. The clearing distance of leveraged positions and the level of collateral varies dynamically with market prices. A $95 million ETH swap in bankruptcy also indicates that the relationship between the position and current price is already at a stage where it needs to be continuously monitored.

Why on-chain liquidity monitoring is important

In a leveraged trade, multiple positions are typically expanded with borrowed funds. When prices fall to the clearing price, the system enforces close-out in order to protect the collateral security of the lending or derivative platforms. If several large multihead clearing prices are concentrated in the same price band, market declines may trigger consecutive close-outs and amplify short-term volatility.

Ethereum is a mainstream crypto asset with many derivatives market participants. On-chain monitoring tools such as TradingBeats disclose the address, position amount, clearing price and distance to current prices so that readers can more specifically understand potential sources of risk. It does not predict the price but presents which positions may be forced to close under what conditions.

Subsequent views focused in two directions: whether ETH entered the central clearing zone of $2,613.9 to $2,631.6 and initially triggered about $886.8 million over-holding near $2,628.59 to $2631.62; changes in holding addresses such as 0xb1da, 0xdbbd, 0XD83c, 0XX0884, 0XCD98 etc.; and whether Huang continued or adjusted his holdings of more than $95 million worth of ETH.