Data

AAVE had about $175M liquidated over the last 24 hours

That’s the most in a single day since early August ’24, when ETH price dropped from ~$3k to $2.3K

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it can't really be insolvent in the same way a centralized lender. AAVE's not holding the money directly, individuals are just locking their collateral into AAVE's contracts and then borrowing against that

so I'd look at these liquidations as a lot of individuals were taking out relatively risky loans on AAVE, and got caught out when prices dropped unexpectedly low. basically over leveraged

Has this made them anywhere close to being insolvent?