New on-chain data shows that over $1.7 billion of Ethereum could face liquidation if the price falls to a certain level. Several large positions span three major zones. These zones are currently acting as pressure points for the market.
Three major on-chain clearing zones $ETH.
Trend Research holds 356,150 $ETH($671 million), with a liquidation price between $1,562 and $1,698.
Joseph Rubin and two unknown whales have 293,302 $ETH($553 million), with a liquidation price between $1,329 and $1,368.
Seven brothers hold… pic.twitter.com/GFwEAZSodC
— Lookonchain (@lookonchain) February 6, 2026
At the time of reporting, $ETH It is trading around $1,896. However, liquidation levels are much lower. When prices fall into these ranges, large amounts of $ETH You may be forced to sell. This could increase overall market volatility.
First major zone approximately $1,560 to $1,690
The biggest exposure comes from trend research. The company has approximately 356,150 employees $ETH. This stash is worth about $671 million in today’s money. Their liquidation range is $1,562 to $1,698. This means that a 10-17% drop from the current price could lead to a forced sale. If this happens, there could be strong downward pressure on the market. Trend Research built this position using borrowed funds. This leverage makes the position more sensitive to price movements. Even a moderate decline can start a chain of liquidations.
A second zone related to Rubin and other whales.
The next big zone involves Ethereum co-founder Joseph Rubin and two unknown whales. In total, it holds approximately 293,302 pieces of data. $ETH. This equates to a value of approximately $553 million. Their liquidation level is between $1,329 and $1,368. This range is much lower than the first zone. That would require an even deeper market decline. Still, if the first zone is triggered, it could push the price towards this second band. Liquidation cascades usually occur this way. One forced sale leads to another forced sale.
Third zone near the $1,000 level
The last major zone belongs to the group known as the 7 Siblings. This entity holds approximately 286,733 $ETHworth approximately $541 million. Their liquidation levels are around $1,075 and $1,029. This is the lowest zone in the report. It is only triggered during severe market crashes. However, if the upper zone begins to liquidate, a chain reaction can occur. In past market cycles, such cascades have caused sharp price declines over short periods of time.
Why are these zones important?
Liquidation levels act like hidden pressure points. When the price falls into these zones, the automated system will start selling the asset. This protects lenders but increases market stress. The larger the leveraged position, the stronger this effect will be. When a whale borrows a large amount of money, it also increases the risk of a sudden sale. For now, $ETH It still trades above all three zones. This gives the market some breathing room. Still, traders are watching these levels closely. Once prices move towards them, volatility can come back very quickly.
