ETH Price Crash Under $1480 Can Trigger Huge DeFi Liquidations
However, one concerning factor with the ETH price crash is the strong liquidations happening over its DeFi ecosystem. As per the data from Parsec, the liquidation volumes on Ethereum DeFi have exceeded $75 million in the last 24 hours. advertisement Thus, the Ethereum blockchain attains a new peak for 2023, when it comes to DeFi liquidations. As per the on-chain data if the ETH price further falls under $1,480, a staggering $288 million in DeFi collateral shall be liquidated, reports popular crypto journalist Colin Wu. Courtesy: Colin Wu Ethereum Massive Liquidation With Slowing DeFi A popular crypto YouTuber Nicholas Merten, the host of Data Dash with over half-a-million subscribers, recently predicted a major risk of liquidation event if the ETH price falls below certain levels. According to Merten, traders who have excessively leveraged their positions with ETH as collateral and utilized decentralized finance (DeFi) protocols might find themselves co...