Over the course of the last 24 hours, the DeFi sector witnessed liquidations of ETH totaling $4.27 million.
Based on Parsec’s data, DeFi saw over $5.4 million in collateral liquidated within the last 24 hours, with $4.27 million tied to ETH. Should ETH plummet to $3,008, an additional $24 million in collateral could face liquidation.
As large volumes of collateral are liquidated, it exacerbates the already heightened price volatility within the Ethereum market. This increased volatility can trigger a cascade of sell-offs as liquidated assets are offloaded, further driving down ETH prices. This volatility, coupled with the visibility of large-scale liquidations, may erode market sentiment surrounding Ethereum, undermining confidence in the platform’s stability and resilience.
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