This past week, Aave V3 on the Ethereum mainnet saw its highest daily liquidations since early February, amid significant market volatility. According to Galaxy Research, around 98.6 million in collateral was liquidated between April 6 and 7. This follows a similar trend earlier this year when about 211.2 million was liquidated during the initial tariff threats by President Trump. In the recent liquidations, Ethereum (ETH) accounted for 66.9 million, or 68% of the total, while wrapped Bitcoin (wBTC) made up 9.8 million, or 9.8%. Despite ETH leading in liquidations, it only represents 21% of the actively borrowed collateral on Aave V3. @glxyresearch attributes ETH's significant impact to two main factors: its relative underperformance in the broader market and aggressive leveraging by borrowers, increasing downside risk during liquidation events. What are your thoughts on the current state of liquidations in the crypto market?