Ethereum Money Markets See Record Liquidations as Ether Tanks; MakerDAO Revenue Surges

Posted on by American Coins & Gold

Ethereum Money Markets See Record Liquidations as Ether Tanks; MakerDAO Revenue Surges
Ether’s recent sell-off has brought pain to some and cheer to others, underscoring the zero-sum nature of trading.As the cryptocurrency fell by over 14% on Friday, its most significant single-day drop in seven months, it triggered liquidations of collateral locked in prominent Ethereum-based lending and borrowing protocols, also referred to as decentralized money markets. At the same time, some of these decentralized finance (DeFi) applications made a handsome amount of money through liquidation fees.Ethereum money markets AAVE, Compound and MakerDAO processed a total of $200 million of liquidations on Friday – a record single-day tally – with MakerDAO accounting for…