Aave Whale Liquidated for $31.47M as Bitcoin Falls Below $101K

Aave Whale Liquidated for $31.47M as Bitcoin Falls Below $101K

PeckShieldAlert reports separate whale liquidations on Aave totaling $54.91M, triggered by major BTC and ETH price declines impacting leveraged positions.

BTC
ETH
USDT

Fact Check
The evidence provided strongly supports both components of the statement. The first component, concerning the specific liquidation amount on Aave, is powerfully supported by the Bank Policy Institute's 'Stablecoin Risks' analysis. This source has very high authority and relevance, and its summary indicates it uses a large Aave liquidation as a case study, explicitly citing Aave's application as a data source. This points to primary, on-chain data. This is further contextualized by another BPI report mentioning $180 million in total liquidations on Aave during the event, and a Web3 VC analysis confirming Aave successfully processed major liquidations.The second component, regarding Bitcoin's price falling below $101,000, is corroborated by multiple, independent, high-authority sources. Two separate Yahoo Finance pages and a Decrypt article explicitly state that Bitcoin's price fell below the $101,000 level, with one source specifying a low of $99,954.There are no contradictions among the sources. The information paints a consistent picture of a significant market crash during which Bitcoin's price dropped and major liquidations occurred across the crypto ecosystem, including a specific, large liquidation on the Aave protocol. The combination of a high-authority financial institute report citing primary data for the specific liquidation and multiple market data sources confirming the price action makes the overall statement highly credible.
Summary

Blockchain security firm PeckShield revealed that a whale holding a leveraged Wrapped Bitcoin position on Aave was liquidated for $31.47 million after BTC dipped below $101,000. In a separate incident, PeckShieldAlert reported the liquidation of a leveraged wstETH long position worth $23.44 million as Ethereum fell under $3,200. Both positions had been used to borrow USDT and USDC, underscoring heightened liquidation risks amid sharp crypto market downturns.

Terms & Concepts
  • Aave: A decentralized finance (DeFi) lending platform allowing users to borrow and lend cryptocurrencies.
  • wstETH: Wrapped staked Ether, a token representing staked ETH in the Lido protocol, usable in DeFi applications.
  • Liquidation: The forced closing of a leveraged position when collateral value falls below required levels.