(1/x)
They have have a lot of borrowing in various lending platform
Which are about to liquidate !
They have have a lot of borrowing in various lending platform
Which are about to liquidate !
(2/x)
#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%
#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%
(3/x)
liquidation of their $245M of $ETH occurs when $ETH drops to Price: $1016
Potentially other accounts of theirs in similar situation, but the one linked is by far the largest.
liquidation of their $245M of $ETH occurs when $ETH drops to Price: $1016
Potentially other accounts of theirs in similar situation, but the one linked is by far the largest.
(4/x)
Most people Think #celsius had the largest holder in $stETH , it's Not the case!
Three Arrows Capital sold at least $40M worth of Lido’s $stETH,
making it the largest seller of the token in the past week.
Most people Think #celsius had the largest holder in $stETH , it's Not the case!
Three Arrows Capital sold at least $40M worth of Lido’s $stETH,
making it the largest seller of the token in the past week.
(5/x)
$400M of Three Arrows’ positions have been liquidated already.
Another $300M is at risk of liquidation on Aave and Compound if the market continues to fall.
$400M of Three Arrows’ positions have been liquidated already.
Another $300M is at risk of liquidation on Aave and Compound if the market continues to fall.
(6/x)
Due to $LUNA/ $UST fall, in which #3AC was heavily invested in
Three Arrows’ $stETH fire selling began in May, right after the collapse of Terra’s UST stablecoin
Both 3AC and @CelsiusNetwork had to play it with $stETH cause of LUNA.
#3AC held 9 figures in #LUNA
Due to $LUNA/ $UST fall, in which #3AC was heavily invested in
Three Arrows’ $stETH fire selling began in May, right after the collapse of Terra’s UST stablecoin
Both 3AC and @CelsiusNetwork had to play it with $stETH cause of LUNA.
#3AC held 9 figures in #LUNA
(7/x)
Are they liquid enough?
All the lenders probably have about 50bn in loan!
This #3AC crisis would destroy 30-40bn of credit . i.e
loans to be recalled and credit to be destroyed
Are they liquid enough?
All the lenders probably have about 50bn in loan!
This #3AC crisis would destroy 30-40bn of credit . i.e
loans to be recalled and credit to be destroyed
(8/x)
This means , When credit leaves the system, there is less money overall.
Less money for the same amount of coins. coin price down.
This means , When credit leaves the system, there is less money overall.
Less money for the same amount of coins. coin price down.
(9/x )
#3AC underling assets are illiquid
and their holdings have gone down in value
They wouldn't be able to repay their debt and likely see liquidation!
#3AC underling assets are illiquid
and their holdings have gone down in value
They wouldn't be able to repay their debt and likely see liquidation!
(10/x)
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