Coinbase Faces $170 Million Liquidations in Crypto-Backed Lending Amid Market Drop
Data from Dune shows Coinbase’s lending platform experienced its biggest liquidation event to date as Bitcoin and Ethereum prices plunged sharply this week.
BTC
ETH
Summary
No Summary provided as the original text is short
Terms & Concepts
Liquidation: The forced closing of leveraged positions when collateral value falls below required levels.
Crypto-backed lending: Borrowing fiat or stablecoins using cryptocurrencies such as Bitcoin or Ethereum as collateral.
Dune: A blockchain data analytics platform that aggregates and visualizes on-chain metrics.