An Ethereum -User saved several makerdao positions from the edge of a $ 360 million liquidation cascade on Tuesday, adding collateral in the last hour when the price of ETH tumbled.

One of the positions had a liquidation price of $ 1,928, this was triggered next to a market jump in US trade times. ETH was less than two minutes away from being liquidated and sold at a Makerdao auction until the wallet owner deposited 2,000 ETH from BitFinex as additional security. It also paid $ 1.5 million worth of DAI Stablecoin.

The wallet in question surprised some by saving the position they had previously been inactive since November.

The special position is not yet out of the forest; It will be liquidated if eth falls to $ 1,781 or until the owner adds more security. Ether is currently shopping for $ 1,928 after jumping from Monday’s low at $ 1,788.

Another wallet that, according to the X account Lookonchain, is suspected of being the Ethereum Foundation deposited 30,098 ETH ($ 56.08 million) to lower the liquidation price of its position to $ 1,127.

While hundreds of millions of dollars worth of liquidations are fairly common across derivative markets, decentralized funding (DEFI) use protocols such as makerdao only spot assets. This means that when a liquidation takes place, defi -liquidity is unable to tackle the pack of the spot asset supply. This does not occur on derivative exchanges, as there is typically more volume and liquidity driven by leverage.

In this case, only one of the NicIfrit Liquidation at MarkerDao would probably send the ETH award that tumble, liquidated the other vulnerable position on its way.

Defillama shows that there are $ 1.3 billion in liquid assets at Ethereum, with $ 352 million of the current price.