A 3% Yield-Token Move Triggers $36M in Ethereum DeFi Liquidations

PT-reUSD’s 2.8% decline early Tuesday, August 25, 2026, was followed by 33 Morpho liquidation events that repaid $36.14 million of debt between 04:37:47 and 04:51:23 UTC. The reading shows how a relatively small move in a yield-token market can rapidly force deleveraging when collateral values approach a protocol’s liquidation threshold.

The liquidations were concentrated in the USDC market, which accounted for $35.19 million of the debt repaid. The USDT market accounted for $956,000.

Data Snapshot

MetricCurrentPreviousChangePeriodAs ofSourcePT-reUSD price move2.8% decline——early Tuesday, August 25, 20262026-08-25The DefiantMorpho liquidations$36.14 million of debt repaid——33 liquidation events between 04:37:47 and 04:51:23 UTC2026-08-25The DefiantCollateral seized38.6 million principal tokens——33 liquidation events between 04:37:47 and 04:51:23 UTC2026-08-25The DefiantAffected Morpho market size$67.5 million of collateral against $52.2 million of borrows——August 25, 20262026-08-25The DefiantPendle reUSD pool liquidity$8.97 million of liquidity——maturity December 10, 20262026-08-25The Defiant

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