DeFi liquidations passed $24M amid falling crypto market

by in DeFI News

DeFi

The decline in prices in the crypto market has led to the second largest number of liquidations in the DeFi ecosystem.

The DeFi liquidations occurred concurrently with the fall in the price of bitcoin below the $ 50,000 mark.

Of the liquidations totaling about $ 24.1 million, approximately $ 13.7 million was the Compound DeFi protocol. Aave came in second with $ 5.4 million.

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The largest amount of liquidations was recorded on November 26, 2020, when a short-term increase in the DAI price led to the liquidation of collateral in the amount of more than $ 88.4 million.

According to Bybt.com, over the past 24 hours, the total amount of liquidations in the crypto derivatives market has reached $ 4.44 billion.