Oh darling, gather ’round! This past week, Aave V3 on the Ethereum mainnet decided to throw a liquidation party, and guess what? It was the highest since early February! 🎉 Talk about a wild ride! With the market doing its best impression of a rollercoaster, approximately $98.6 million in collateral was liquidated between April 6 and 7. I mean, who needs a reality show when you have crypto drama like this?
And just to spice things up, remember when around $211.2 million was liquidated earlier this year? That was during the initial tariff threats by President Trump. Ah, the good old days of political chaos! 😅
Now, let’s get to the juicy bits: Ethereum ( ETH) was the star of the show, accounting for a whopping $66.9 million, or 68% of the total liquidations. Wrapped Bitcoin (wBTC) tried to join the party with a mere $9.8 million, or 9.8%. Sorry wBTC, but you’re just not the main character here! 😏
Despite being the leading liquidator, ETH only represents 21% of the actively borrowed collateral on Aave V3. Talk about a diva move! Galaxy Research has some theories, attributing ETH’s dramatic impact to two main factors: its relative underperformance in the broader market and the aggressive leveraging by borrowers. It’s like watching a high-stakes game of poker, but with more tears and fewer chips! 🎲💔
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2025-04-14 13:57