Analysis: Liquidation in ETH-Based Loan Market Hits Second-Highest Monthly
CryptoNewsTerminal Staff03 Sep, 2024
Analysis: Liquidation in ETH-Based Loan Market Hits Second-Highest Monthly
According to The Block, the liquidation amount of the Ethereum (ETH)-based on-chain loan market in August was 436 million US dollars. This is the second largest ever on a monthly data basis. The media analyzed that "the ETH price in August fell by 22% compared with the previous month. With the sharp drop of the ETH price, chain liquidations occurred. In particular, the liquidation amount of the decentralized cryptocurrency loan protocol Aave was 289 million US dollars, which accounted for 66% of the total." ```