In August, the on-chain settlement amount of Ethereum reached the second highest level in history

ChainCatcher message, the total liquidation amount in the Ethereum lending market in August reached $436 million, with Aave accounting for $289 million, or about 66% of the total liquidation. This is the second highest monthly on-chain lending market liquidation amount in Ethereum's history, only lower than May 2021, when the liquidation amount was approximately $671 million.

The reasons for these exceptionally high on-chain loan liquidations are obvious: the price of ETH fell by 22% month-on-month in August, and even dropped by 35% at the monthly low.