Over $5.4 Million worth of collateral liquidated in just 24 hours across all defi platforms
Ethereum The largest amount of liquidations, $4.2 millions, was attributed to the quickest-moving companies. Data collected by Parsec. A further destabilization threat if ETH falls to $3,008 may trigger additional liquidations of $24 millions.
These on-chain derivatives markets, including GMX Kwenta Polynomial and Polynomial were at the heart of the liquidations. They accounted for over $52,000,000 in one day. Liquidating collaterals in defi means the platform is selling assets pledging as security to loans.
The following are some of the ways to get in touch with us defi Loans are frequently over-collateralized in order to compensate for volatility of cryptocurrency price. As the value of the collateral asset (in this case Ethereum, ETH) drops, a liquidation can occur. To ensure that the loan will be repaid the platform sells collateral automatically, usually at less than the market price, which can result in losses to the borrower.
Ethereum The price of a single coin is around $3 338, which represents a 15 percent drop over the course of ONE week. Overall crypto market cap has fallen by 3.5%, and there is a significant amount of liquidation today after a long rally.
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Source: crypto.news