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Trump’s magic is in full swing. Between the fiasco of his same, the fall of bitcoins and altcoins, and now Ethereum seems to be saving. The digital asset that the former president wants to integrate into the Strategic Reserve of the United States has experienced dark days. In February, ETH was the victim of violent disposal, which swung the entire crypto market and emphasized the shortcomings and brutality of decentralized loans.
Ethereum is layer: $ 500 million in a few days
The numbers are to give cold sweating: $ 500 million liquidated in a few dayssecond largest monthly disposal in the history of defi, just behind CRACK IN May 2021 (670 million USD).
The Aave platforms and folded loans were most affected. Their automatic liquidation mechanism did their work, but not without breaking. Third -party liquidators threw themselves Sublateralized positionsRestoration of collaterals at broken prices, between 5 and 15 % below the market.
What to wake up Worst memories of 2021.
- $ 2.06 million ($ 5.09 billion) was on Aave;
- At stake also 3.56 billion USDT;
- Billions in USDC, WSteth and other inserted tokens.
” If ETH falls below $ 1,780, a $ 372 million lever effect will be swept “Warn @Backdoor_News.” A prophecy that almost met.
So when is there any further cleaning?
Blood bath on cryptomes and derivatives
Karnage did not stop at Ethereum. The whole crypto market has been shaken and the numbers make you dizziness. Bitcoin and ETH rushed by 18 % and 26 % Causes a liquidation cascade.
Bybitonly exchange for the purpose of recorded data on actual disposal, recorded historic week ::
- $ 1.4 billion in long positions;
- 383 million dollars have gone out in one day on February 25;
- More than 41 % ETH ETH closes on Bybits.
Other cryptocurrencies such as Binance, OKX and HUOBI were more discreet, probably because of a underestimation of actual liquidation. Meanwhile, investors are investigating another wave.
” More than $ 4 billion was liquidated last week “Dude underlines.
The message is clear: the crypto market is a field of Mires. But how far will this bleed go?
In short, February ended with a nightmare for Ethereum, with a drop in 20 % in three days. New evidence that crypto is not a long, quiet river.
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Blockchain and crypto revolution! And the day when the impacts will be felt on the most vulnerable economy of this world, I would say against all the promises that I was there for something
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.