After experiencing a large-scale sell-off over the weekend due to the tense situation between Israel and Iran, the amount of liquidation in the Ethereum lending market has reached its monthly high for years, even though only half of April has passed.
According to data from The Block, the liquidation volume of the lending protocol Aave in April alone reached 80 million USD, while Compound’s liquidation volume approached 50 million USD. The total liquidation volume of these two protocols amounted to approximately 130 million USD. The last time the monthly liquidation volume exceeded this number was in June 2022, after the collapse of the Terra ecosystem, when a total of over 300 million USD in assets were liquidated on the Ethereum chain.
On the other hand, the collapse of CRV prices also seems to threaten Curve’s founder Michael Egorov’s debt position. According to information shared by on-chain analyst Yu Yin, due to the market downturn, Michael Egorov’s lending positions on various platforms have once again entered the danger zone.
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