This revelation has sent waves of concern through the crypto community, prompting holders and enthusiasts to take heed.
According to data sourced from BendDAO, a disconcerting number of NFTs teeter on the edge of liquidation. Currently, a total of 68 BAYC and 50 MAYC tokens with health coefficients registering below the critical threshold of 1.2 are precariously perched on the platform. The precariousness of their situation underscores the importance of taking decisive action to avert a potential loss.
Meanwhile, insights gleaned from ParaSpace’s site data have revealed that the peril extends to their platform as well. At present, four BAYC NFTs are being primed for auction as part of the liquidation process. But the impact doesn’t end there. An additional 42 BAYC and 61 MAYC tokens, all afflicted with health coefficients falling beneath 1.2, hang in the balance, poised on the brink of liquidation.
This unfolding scenario serves as a stark reminder of the intricacies and potential volatility inherent in the NFT space. Holders and participants in BendDAO and ParaSpace are urged to assess the health factors of their holdings promptly, as well as to explore possible remedial actions. Such actions may involve strategic decisions to strengthen the health of their NFTs or swift engagement with the platforms to avert the risk of liquidation.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.