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| Time | Details |
|---|---|
| 2024-08-10 18:01 |
Aave Faces Record Liquidations Amid ETH Price Drop
According to IntoTheBlock, Aave experienced its largest-ever liquidations this week, amounting to nearly $300M. The majority of these liquidations were due to stablecoin loans secured against (wst)ETH collateral, following a 25% drop in ETH's price. Despite the significant liquidations, the protocol demonstrated resilience by adding $6M in profits to the Aave DAO. (Source) |