On October 18, according to IntoTheBlock data, the total amount of high-risk loans (defined as loans within 5% of the liquidation price) rose to $55 million on Wednesday, reaching the highest level since June 2022. And loans within 5% of the liquidation price mean that if the price of the collateral falls by 5%, it will no longer cover the loan, triggering a liquidation.
In a market update, IntoTheBlock said: "Large-scale liquidations could impact collateral values, putting more loans at risk of liquidation, creating a downward price spiral."
Data: 'High-risk' crypto loans surge to highest level in two years
2024-10-18 05:54:37
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