New onchain data shows that more than $1.7 billion worth of Ethereum could face liquidation if prices fall to certain levels. Several large positions sit across three main zones. These zones now act as pressure points for the market.
At the time of the report, ETH trades near $1,896. However, the liquidation levels sit much lower. If the price drops into those ranges, large amounts of ETH could be forced to sell. This could increase volatility across the market.
The biggest exposure comes from Trend Research. The firm has around 356,150 ETH. This stash is worth around $671 million at today’s values. The range of their liquidation is $1,562 to $1,698. This means a 10% to 17% drop from the current price may result in forced selling. If that happens, the market could see strong downward pressure. Trend Research built this position using borrowed funds. Because of this leverage, the position becomes more sensitive to price swings. Even a moderate drop could start a liquidation chain.
The next large zone involves Ethereum co-founder Joseph Lubin and two unknown whales. Together, they hold about 293,302 ETH. This equals roughly $553 million in value. Their liquidation levels sit between $1,329 and $1,368. This range is much lower than the first zone. It would require a deeper market drop. Still, if the first zone triggers, it could push prices toward this second band. That is how liquidation cascades usually happen. One forced sale leads to another.
The final major zone belongs to a group known as 7 Siblings. This entity holds about 286,733 ETH, worth around $541 million. Their liquidation levels sit near $1,075 and $1,029. This is the lowest zone in the report. It would only trigger during a severe market crash. However, if the upper zones start to liquidate, they could create a chain reaction. In past market cycles, such cascades have caused sharp price drops in a short time.
Liquidation levels act like hidden pressure points. When prices fall into these zones, automated systems begin selling assets. This protects lenders but increases market stress. Large leveraged positions make this effect stronger. When whales borrow heavily, they also raise the risk of sudden sell-offs. For now, ETH still trades above all three zones. That gives the market some breathing room. Still, traders are watching these levels closely. If the price moves toward them, volatility could return very fast.
