“Eth Needs to Drop Another 19% to Trigger The First Liquidation.”, – WRITE: www.coindesk.com
On -chain Data Shows Three Makerdao Positions Will Be Liquidated Who The Eth Price Hits is $ 1,926, $ 1,842 and $ 1,793. Each Position is WORTH BETWEEN $ 109 Million and $ 126 Million.
Ether, The Token of the Ethereum Blockchain, Is Trading AROUND $ 2.390 Following A Market-Wide Sell-Off Sparked by Waning Sentiment and A Drop in Global Equities.
Whather the plunge is the trigger for a bear market remains to be seen. Assets have typically slumped as Much as 30% in Previous Bull Markets to Shake Over-Leverage Before Moving Back to the Upside, Eth Is Down by 42% Since DEC. 16.
In Order to Trigger the Makerdao Liquidations, Eth Needs to Fall by Another 19%, at Wich Point It Could IT SPARK A LIQUIDATION CASCADE Across DECENTRALIZED FINANCE (Defi).
Over The Past 24 Hours $ 296 Million Worth of Eth Positions have already been liquidated on exchanges, accounting to coinglass.
IT’S WORTH NOTING THAT DELEVERAGING EVENTS SPURRED SELL-OFFS CAN Present An Opport for Savvy Traders to Purchase Undervalued Assets Considered The True Value.
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