On June 5, on-chain analytics platform Lookonchain reported that a total of 343,075 ETH across DeFi protocols are currently at risk of liquidation, representing a total value of approximately $547 million at prevailing prices. In decentralized lending, users deposit crypto assets as collateral to borrow funds; if the collateral's value falls below a preset liquidation threshold, the protocol automatically sells the collateral to repay the debt and protect the pool's solvency. The latest data indicates that a significant concentration of positions hovers just above critical liquidation levels.
The specific liquidation thresholds are distributed across four key price points: 46,741 ETH would be liquidated at $1,565.72, 58,032 ETH at $1,555.04, 100,394 ETH at $1,426.31, and the largest exposure—137,908 ETH—would trigger liquidation at $1,361.73. These levels are stacked in descending order, and if ETH price declines through them sequentially, a cascade of liquidations could ensue. Such a dense clustering of liquidation trigger prices tends to amplify downward price momentum, making these levels a near-term focal point for the market.