On January 22nd, Ethereum continued to decline, and a large number of liquidations occurred in DeFi protocols. According to the data of the Ouke Cloud Chain browser, the liquidation volume of mainstream DeFi protocols reached US$56.53 million within 24 hours, of which the liquidation volume of Aave was US$23.68 million, the liquidation volume of Compound was US$15.11 million, and the liquidation volume of Venus was US$13.92 million. According to the Ouyi OKX market, ETH once fell below 2300 USDT in the short-term, and then rebounded as low as 2298.94 USDT, and temporarily reported 2402.41 USDT, with an intraday decrease of 15.15%.