Over 343,000 ETH, worth roughly $547 million, is teetering close to liquidation thresholds across DeFi lending protocols. On-chain data from Lookonchain flagged the risk on June 5, showing the bulk of at-risk positions are clustered between $1,362 and $1,566.
The largest chunk of vulnerable collateral is 137,908 ETH sitting at a liquidation threshold of $1,361.73. If ETH drops about 12% from current levels, that position gets unwound automatically.
More immediate concerns are higher up the price ladder. On Maker, 46,741 ETH faces liquidation at $1,565.72. On Aave V3, another 58,032 ETH is exposed at $1,555.04. Those two positions alone account for over 104,000 ETH, roughly $166 million, that could be forcibly sold if the price ticks down just a few dollars.
No cascade liquidation has been confirmed yet. However, with ETH trading near $1,554, some positions have almost no breathing room left.