Aave Faces Record Liquidations Amid ETH Price Drop
8/10/2024 6:01:02 PM
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)
Aave ETH liquidations wstETH Aave DAO