MakerDAO Faces Risk Of Liquidation If ETH Continues To Fall Below $1,300
After The Merge, the price of ETH continuously decreased by nearly 11% because the amount of liquidation within 24 hours has reached more than 169 million dollars. Now MakerDAO faces liquidation at $1284. Worth around $4.3 million, as seen on DeFi Llama.
According to data on DeFi Llama, the MakerDAO is facing the highest risk of liquidation at $1284 with $4.3 million in collateral, 3.35 million DAI in debt.
According to data from Coinglass, the total amount of liquidations for ETH has surpassed $165 million. The main reason is that investors no longer have the incentive to hold. Besides, the price of BTC is dropping seriously, which is also one of the reasons that dragged the whole market into the red.
The second largest cryptocurrency in the market, Ethereum, recorded a similar heavy drop, down nearly 10.85% in the past 24 hours, currently trading at $1291.
The crypto market has been beaten for the past few days, if ETH continues to fall, there will be a lot of DeFi vaults facing liquidation if ETH continues to fall.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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