More than 343,000 ETH, worth roughly $547 million at current prices, is sitting uncomfortably close to liquidation thresholds across DeFi lending protocols.
On-chain data from Lookonchain flagged the exposure on June 5, showing that the bulk of at-risk positions are clustered between $1,362 and $1,566. With ETH trading near $1,554, some of these positions have almost no breathing room left.
Where the risk is concentrated
The single largest chunk of vulnerable collateral is 137,908 ETH sitting at a liquidation threshold of $1,361.73. That’s roughly 40% of all the at-risk ETH concentrated in one position at the lowest price trigger. If ETH drops about 12% from current levels, that position gets unwound automatically.
But the more immediate concern sits 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 from where it currently trades.
