TechFlow reported, crypto researcher 0xLoki tweeted that Chainlink's price reporting process was smooth, providing a quote of 0.59 at the lowest point, one block apart from the previous quote and 13 blocks before the next quote. Chainlink has 18 price feed providers, and at least 11 of them must submit valid prices for the algorithm to determine an official price. Clearly, the vast majority of these 18 providers considered around 0.59 to be a valid price. So the situation is simple: all 18 providers told Chainlink that CRV’s price was 0.59, so Chainlink informed lending platforms that CRV was priced at 0.59, leading those platforms to determine no liquidation was needed—everything functioned normally.
As for what the on-chain DEX price might have been, it doesn't matter, because we need fair and reasonable prices rather than arbitrary DEX prices. Even if a few individual reporters had submitted a price like 0.07, given that the data sources are diverse—including exchanges such as Binance and OKX, where prices never dropped to 0.07—0.07 would not be considered a reasonable price. Instead, 0.59 is the reasonable price.
Chainlink quoting 0.59 actually proves that Chainlink's mechanism is reliable.
