Ethereum Spire Ethreum Monday, endangering a large decentralized financing loan (DEFI) on the Sky loan platform (formerly manufacturer) to be liquidated.
The borrower in danger contracted a loan of $ 74 million to Dai Stablecoin by promising 65,680 ETH in warranty, worth almost $ 130 million earlier in the day, according to a Sky Vault data dashboard.
In an already low cryptography price, the ETH plunged almost 10% during the day at $ 1,820, below the loan liquidation level slightly above $ 1,900.
Blockchain data by Debank show that the borrower has withdrawn 2,000 ETH, worth almost $ 4 million at current prices, Crypto Exchange Bitfinex earlier on Monday and filed the assets at the safe, supporting the loan guarantee to avoid liquidation.
After the deposit, the loan liquidation level amounted to $ 1,875 from the ETH price, which was always higher than the last price of the ETH.
Read more: Ether was dangerously closer to massive liquidation. Here are some levels to watch
It is not the only loan defined in danger of quickly lowering the prices of the ETH. There are approximately $ 13.6 million in liquidation levels $ 1,857 ETH, and $ 117 million in additional loans are liquidated at $ 1,780, according to Defilma data. There are some $ 366 million in debts to liquidate if the ETH falls 20%, according to Defilma data.
DEFI liquidations can have a significant impact on the price of a collateral asset, because the protocol sells or shares on the guarantee of a liquidated loan, exacerbating the sale pressure.
