Coinbase experienced record liquidations amounting to 170 million USD this week due to drops in Bitcoin and Ethereum prices. Approximately 2,000 users faced losses of 90.7 million USD on a single day, highlighting the severe impact of the market downturn.
With Bitcoin and Ethereum falling by 17% and 26% respectively, many users’ loans approached liquidation levels. Despite these challenges, Coinbase’s lending product has facilitated 1.8 billion USD in loans since launch, illustrating its continued demand.
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