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

The reason for these abnormally high on-chain loan liquidations is obvious: the price of ETH fell 22% month-on-month in August, and even fell 35% month-on-month at the lowest point of the month.