Ethereum Price Plummets: 67,570 ETH Liquidated Amid Market Turmoil

The cryptocurrency market is experiencing a tumultuous ride as Ethereum’s price plunges over 14% in the last 24 hours. This decline has triggered a ripple effect across DeFi platforms, leading to significant liquidations and raising concerns about broader market stability. 67,570 ETH, valued at nearly $106 million, was liquidated on Sky lending platform due to its collateral ratio dropping below the required 150% threshold as Ethereum’s value dipped. The automated system triggered a liquidation based on the falling price.