Lookonchain
On-chain data tracked by DeBank shows 343,075 ETH ($547M) currently sits inside DeFi lending protocols at risk of liquidation if ETH extends lower.
Why it matters
The stack isn't evenly distributed — it concentrates at four specific price triggers. The first liquidation wall sits at $1,565.72 (46,741 ETH / $74.71M), followed by $1,555.04 (58,032 ETH / $92.85M), $1,426.31 (100,394 ETH / $159.43M), and a final dense cluster at $1,361.73 (137,908 ETH / $220.41M). A move into the upper band would cascade through roughly 105K ETH of debt positions in two prints; a deeper flush through $1,362 alone wipes the largest single cluster on the board.
Market impact
Cascading liquidations on this scale historically force-sell ETH into already-weak books, amplifying the move that triggered them. Traders watching the tape will read any test of the $1,560 zone as the trip-wire for the first leg, with $1,362 as the structural level where forced selling would meet the heaviest single block of supply.
Liquidation clusters also shape options skew and perp funding in real time — desks hedging the cascade typically lift downside protection through the $1,400 strikes in the days before any test.
Source: [DeBank | Your go-to portfolio tracker for Ethereum and EVM](https://debank.com/profile/0x34d1231f15da58762a84ead35242896e7fec4ac1)
Frequently asked questions
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How much ETH is currently at risk of DeFi liquidation?
343,075 ETH worth approximately $547M sits inside DeFi lending protocols at risk of liquidation, per DeBank's on-chain tracker.
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At what price levels would ETH liquidations trigger?
Four price triggers concentrate the risk: $1,565.72 ($74.71M), $1,555.04 ($92.85M), $1,426.31 ($159.43M), and $1,361.73 ($220.41M) — the largest single cluster.
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Where is the largest liquidation cluster located?
The heaviest cluster is at $1,361.73, where 137,908 ETH ($220.41M) of positions would be liquidated in a single print.
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Why does the liquidation stack concentrate below current prices?
Borrowers opened leveraged ETH long positions with collateral close to minimum ratios; a drawdown pushes loan-to-value past the protocol threshold, triggering automatic sale of the collateral.
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What is the market impact if these liquidation levels are hit?
Cascading forced selling through these walls typically amplifies the price move that triggered them, deepens drawdowns, and lifts demand for downside options protection at the $1,400 strikes.
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