Current #3AC situation summarized:
3AC has $245M of $ETH deposited on lending platform @AaveAave
From this, they have borrowed $189M in $USDC and $USDT
This puts their Loan-to-Value ratio at ~77%
They must keep this below 85%
3AC has $245M of $ETH deposited on lending platform @AaveAave
From this, they have borrowed $189M in $USDC and $USDT
This puts their Loan-to-Value ratio at ~77%
They must keep this below 85%
At current collateral/loan values, 85% or liquidation of their $245M of ETH occurs when $ETH hits $1034
Their options:
1) Deposit more USDC/USDT to bring down loan
2) Add more $ETH
3) Pump the price of $ETH
I'm sure the sharks are out there trying to dump ETH.
Their options:
1) Deposit more USDC/USDT to bring down loan
2) Add more $ETH
3) Pump the price of $ETH
I'm sure the sharks are out there trying to dump ETH.
They did not do anything for the last 21 hours, but they are finally starting to do a weird multi step approach:
1) Move ETH to another wallet
2) Dump ETH for stables
3) Move stables back
4) Pay back loan
But only a few million at a time. Which is barely anything.
1) Move ETH to another wallet
2) Dump ETH for stables
3) Move stables back
4) Pay back loan
But only a few million at a time. Which is barely anything.
Concern is they are clearly have liquidity crisis. Otherwise why ride the health factor so close...
Currently at 1.10
But liquidation at 1.00
Currently at 1.10
But liquidation at 1.00
Obviously their spare change is busy in other loans. They are paying back money very slowly.
1) How spread thin are they?
2) What other liquidations are pending?
3) What about OTC margin calls?
4) Which whales/funds will save them by buying their hard to move assets (deribit)?
1) How spread thin are they?
2) What other liquidations are pending?
3) What about OTC margin calls?
4) Which whales/funds will save them by buying their hard to move assets (deribit)?
Will this be like @CelsiusNetwork ? Where we knew their BTC liquidation target, but they just quickly paid it off?
I guess it depends how much spare change 3AC has lying around.
I guess it depends how much spare change 3AC has lying around.
We got here because of $LUNA/ $UST and @stablekwon ...
Both 3AC and @CelsiusNetwork played with $stETH cause of LUNA. And 3AC held 9 figures of locked LUNA.
LUNA caused their hardship and potential downfalls.
Serious concern over what downfalls 3AC and celsius may cause next..
Both 3AC and @CelsiusNetwork played with $stETH cause of LUNA. And 3AC held 9 figures of locked LUNA.
LUNA caused their hardship and potential downfalls.
Serious concern over what downfalls 3AC and celsius may cause next..
Current 3AC Liquidation ETH Price: $1016
Seeing wicks down to $1080
Potentially other accounts of theirs in similar situation, but the one linked is by far the largest.
Seeing wicks down to $1080
Potentially other accounts of theirs in similar situation, but the one linked is by far the largest.
Yeah so no repayment in almost 3 hours now…
8000 ETH liquidated on another lending platform @compoundfinance
Most likely a 3AC account
etherscan.io
Most likely a 3AC account
etherscan.io
If their larger account liquidated they will be out $32M on this position.
Not the full 215M since they have 182M of stables withdrawn already.
Still terrible, but not a quarter billion at stake.
Not the full 215M since they have 182M of stables withdrawn already.
Still terrible, but not a quarter billion at stake.
Another 3300 ETH liquidated from same account.
212k eth account getting close
212k eth account getting close
Cascade of liquidations being seen now. Just big accounts, not sure who.
etherscan.io
etherscan.io
disclaimer: I went off @nansen_ai tag for this wallet as being 3ac. but there is a possibility it isn't them but another large player. esp since they have some pulsechain connections to this wallet which seems a little off.
no matter, will deep dive after this liquidation fiasco
no matter, will deep dive after this liquidation fiasco
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