Anchor saw $1 billion of liquidations during UST and LUNA’s death spiral
According to The Block’s Data Dashboard, $1.048 billion worth of staked crypto collateral deposited by borrowers on Anchor was liquidated on the platform between May 7 and May 12. This is the largest liquidation event for a single protocol.
Terra (LUNA) accounted for over $750 million — or close to 75% of the liquidations — on Anchor during the period. Liquidations of Avalanche (AVAX) came in at $261 million, with the remainder spread across Ether (ETH), Solana (SOL), and Cosmos (ATOM).