DeFiLiquidation
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💰 $83.3 Million at Risk in DeFi Liquidation: DeFiRama warns that a significant $83.3 million could be liquidated from major DeFi protocols if ETH drops to $2,115, though current ETH price stands at $2,242.29, down 4.33%. 📉🔥 #DeFiLiquidation
#Write2earn
DeFi Protocols Face Major Liquidations Amid Crypto Market Turbulence
#DeFiLiquidation #AAve #WrappedETH $AAVE
Record Liquidations on Aave v3
Aave v3: Processed $253.4 million in liquidations on August 5, accounting for 59% of its all-time liquidations, totaling $428.9 million.
Top Assets: Wrapped ETH (WETH) led with $146.7 million, followed by Wrapped stETH (wstETH) at $68.4 million, and Wrapped Bitcoin (WBTC) at $24.3 million.
Interest rates on ETH deposits temporarily spiked to 14%, later dropping to 2%.
Market-Wide Sell-Off
Crypto Declines: Bitcoin fell 13%, Ethereum 20%, and Solana 16%, pushing the crypto market below $2 trillion.
Global Impact: Japan’s Nikkei 225 dropped 12.4%, South Korea’s KOSPI fell 8.77%, and Taiwan’s Taiex decreased 8.35%.
DeFi Margin Calls
Other Protocols: MakerDAO’s Spark Protocol saw $35 million in liquidations, 80% of its total. Compound faced $34.8 million in margin calls, led by WBTC ($22M), WETH ($9.37M), and Chainlink (LINK) ($2.85M).Additional Liquidations: Morpho Blue hosted $18.1 million in liquidations. Lido’s stETH dropped from over 0.999 ETH to 0.983 ETH before rebounding to 0.99 ETH.
Potential Market Rebound
Signs of Capitulation: Santiment analysis suggests heavy liquidations could indicate an end to the downturn, potentially followed by market rebounds due to opportunistic buying.
DeFi Sector Impact
TVL Drops: The DeFi sector’s total value locked (TVL) dropped to $111.5 billion, its lowest since February, with over $24 billion wiped out in one day, marking a 17% decrease.
Conclusion
The recent liquidations underscore the volatility and interconnectedness of the DeFi and crypto markets. Investors should stay vigilant during these uncertain times.
DeFi Protocols Face Major Liquidations Amid Crypto Market Turbulence
#DeFiLiquidation #AAve #WrappedETH $AAVE
Record Liquidations on Aave v3
Aave v3: Processed $253.4 million in liquidations on August 5, accounting for 59% of its all-time liquidations, totaling $428.9 million.
Top Assets: Wrapped ETH (WETH) led with $146.7 million, followed by Wrapped stETH (wstETH) at $68.4 million, and Wrapped Bitcoin (WBTC) at $24.3 million.
Interest rates on ETH deposits temporarily spiked to 14%, later dropping to 2%.
Market-Wide Sell-Off
Crypto Declines: Bitcoin fell 13%, Ethereum 20%, and Solana 16%, pushing the crypto market below $2 trillion.
Global Impact: Japan’s Nikkei 225 dropped 12.4%, South Korea’s KOSPI fell 8.77%, and Taiwan’s Taiex decreased 8.35%.
DeFi Margin Calls
Other Protocols: MakerDAO’s Spark Protocol saw $35 million in liquidations, 80% of its total. Compound faced $34.8 million in margin calls, led by WBTC ($22M), WETH ($9.37M), and Chainlink (LINK) ($2.85M).Additional Liquidations: Morpho Blue hosted $18.1 million in liquidations. Lido’s stETH dropped from over 0.999 ETH to 0.983 ETH before rebounding to 0.99 ETH.
Potential Market Rebound
Signs of Capitulation: Santiment analysis suggests heavy liquidations could indicate an end to the downturn, potentially followed by market rebounds due to opportunistic buying.
DeFi Sector Impact
TVL Drops: The DeFi sector’s total value locked (TVL) dropped to $111.5 billion, its lowest since February, with over $24 billion wiped out in one day, marking a 17% decrease.
Conclusion
The recent liquidations underscore the volatility and interconnectedness of the DeFi and crypto markets. Investors should stay vigilant during these uncertain times.
