The price of Ether (ETH) has dropped by 11.5% in the past 24 hours, bringing it closer to triggering $340 million worth of liquidations on the MakerDAO platform. On-chain data shows that three positions on MakerDAO will be liquidated if the ETH price falls to certain levels. The current market-wide sell-off has been caused by declining sentiment and a drop in global equities. If ETH falls by another 19%, it could trigger a cascade of liquidations across decentralized finance (DeFi) protocols and exchanges. In the past 24 hours, $296 million worth of ETH positions have already been liquidated on exchanges. However, these sell-offs can present an opportunity for traders to purchase undervalued assets.



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