DeFi Liquidations Surge as Bitcoin Plummets Below $92K Before Bouncing Back
The decentralized finance (DeFi) sector witnessed a wave of massive liquidations early Monday as Bitcoin (BTC) briefly dipped below $92,000, triggering widespread sell-offs across major lending protocols. The downturn, which saw billions in value wiped from the crypto market, led to an all-time high in liquidations for platforms like Aave and Compound, exacerbating volatility before Bitcoin staged a dramatic rebound past $102,000. https://twitter.com/santimentfeed/status/1886667595891273746?t=wAXM-0a20cCLzOiUzwsDHA&s=19v Record DeFi Liquidations Amid Bitcoin’s Drop According to data from Parsec, total lending liquidations across the DeFi ecosystem in the past 24 hours exceeded $310 million—marking the highest level since early August last year. Ethereum (ETH) collateral was hit the hardest, with $181 million in liquidations, while wrapped Bitcoin (wBTC) saw $49.2 million in forced sell-offs. https://twitter.com/WuBlockchain/status/1886263463636582769?t=wAXM-0a20cCLzOiUzwsDHA&s=19 One of the biggest impacts was felt on Aave V3, which alone accounted for over $23.7 million in liquidations on […]