TechFlow News: On January 29, blockchain analyst Yu Jin (@EmberCN) reported that XVS, the native token of Venus Protocol, dropped 40% in price over 24 hours—from $5.3 to $3.1.
A trader purchased 532,000 XVS tokens (valued at $2.81 million) on the Venus platform two days ago via a looping loan strategy. Today, 287,000 XVS tokens (valued at $930,000) were liquidated, resulting in an approximate loss of $1.09 million. Prior to liquidation, the trader had collateralized XVS to borrow $1.4 million in USDT and used those funds to purchase additional XVS; the liquidation price was $3.23. After liquidation, the account’s health factor stood at only 1.07. If the XVS price remains below $3.2, the remaining position faces further liquidation risk.
Add to Favorites
Share to Social Media
