Seismograph by Cryptograph Club

Liquidation wave · Closed

$11.0M on-chain liquidation wave, 16 Oct 2025

Magnitude M 4.0 on-chain, scale v1
Liquidated $11.0M USD at the block
Busiest hour $5.3M to 16 Oct 2025, 16:45 UTC

Liquidations on GMX v2, Morpho Blue, Aave v3, Compound v3 and Spark (Arbitrum, Base and Ethereum) totalled $11.0M between 15:45 and 20:40 UTC on 16 Oct 2025. The busiest hour saw $5.3M. 325 positions were liquidated. 1 liquidation could not be valued and is not included.

Timeline

$0$1.0M$2.0M$3.0M16 Oct 14:45–14:50 UTC: $014:4516 Oct 14:50–14:55 UTC: $016 Oct 14:55–15:00 UTC: $2K16 Oct 15:00–15:05 UTC: $12K16 Oct 15:05–15:10 UTC: $7K16 Oct 15:10–15:15 UTC: $4K16 Oct 15:15–15:20 UTC: $016 Oct 15:20–15:25 UTC: $9K16 Oct 15:25–15:30 UTC: $25K16 Oct 15:30–15:35 UTC: $19K16 Oct 15:35–15:40 UTC: $34K15:3516 Oct 15:40–15:45 UTC: $22K16 Oct 15:45–15:50 UTC: $405K16 Oct 15:50–15:55 UTC: $73K16 Oct 15:55–16:00 UTC: $147K16 Oct 16:00–16:05 UTC: $457K16 Oct 16:05–16:10 UTC: $016 Oct 16:10–16:15 UTC: $2K16 Oct 16:15–16:20 UTC: $929K16 Oct 16:20–16:25 UTC: $1K16 Oct 16:25–16:30 UTC: $1.3M16:2516 Oct 16:30–16:35 UTC: $2.0M16 Oct 16:35–16:40 UTC: $9K16 Oct 16:40–16:45 UTC: $15K16 Oct 16:45–16:50 UTC: $5K16 Oct 16:50–16:55 UTC: $19K16 Oct 16:55–17:00 UTC: $23K16 Oct 17:00–17:05 UTC: $88916 Oct 17:05–17:10 UTC: $016 Oct 17:10–17:15 UTC: $49116 Oct 17:15–17:20 UTC: $96317:1516 Oct 17:20–17:25 UTC: $6K16 Oct 17:25–17:30 UTC: $2K16 Oct 17:30–17:35 UTC: $016 Oct 17:35–17:40 UTC: $14K16 Oct 17:40–17:45 UTC: $10K16 Oct 17:45–17:50 UTC: $116 Oct 17:50–17:55 UTC: $58K16 Oct 17:55–18:00 UTC: $016 Oct 18:00–18:05 UTC: $23K16 Oct 18:05–18:10 UTC: $11K18:0516 Oct 18:10–18:15 UTC: $13K16 Oct 18:15–18:20 UTC: $3K16 Oct 18:20–18:25 UTC: $016 Oct 18:25–18:30 UTC: $8K16 Oct 18:30–18:35 UTC: $016 Oct 18:35–18:40 UTC: $96016 Oct 18:40–18:45 UTC: $016 Oct 18:45–18:50 UTC: $1116 Oct 18:50–18:55 UTC: $016 Oct 18:55–19:00 UTC: $018:5516 Oct 19:00–19:05 UTC: $7K16 Oct 19:05–19:10 UTC: $016 Oct 19:10–19:15 UTC: $15K16 Oct 19:15–19:20 UTC: $4K16 Oct 19:20–19:25 UTC: $1.3M16 Oct 19:25–19:30 UTC: $57716 Oct 19:30–19:35 UTC: $1.1M16 Oct 19:35–19:40 UTC: $42K16 Oct 19:40–19:45 UTC: $016 Oct 19:45–19:50 UTC: $3K19:4516 Oct 19:50–19:55 UTC: $22K16 Oct 19:55–20:00 UTC: $016 Oct 20:00–20:05 UTC: $016 Oct 20:05–20:10 UTC: $8K16 Oct 20:10–20:15 UTC: $216 Oct 20:15–20:20 UTC: $016 Oct 20:20–20:25 UTC: $016 Oct 20:25–20:30 UTC: $16K16 Oct 20:30–20:35 UTC: $2.0M16 Oct 20:35–20:40 UTC: $909K20:3516 Oct 20:40–20:45 UTC: $1K16 Oct 20:45–20:50 UTC: $17K16 Oct 20:50–20:55 UTC: $016 Oct 20:55–21:00 UTC: $2K16 Oct 21:00–21:05 UTC: $016 Oct 21:05–21:10 UTC: $016 Oct 21:10–21:15 UTC: $2K16 Oct 21:15–21:20 UTC: $016 Oct 21:20–21:25 UTC: $016 Oct 21:25–21:30 UTC: $021:2516 Oct 21:30–21:35 UTC: $316 Oct 21:35–21:40 UTC: $0

All covered venues, with an hour before and after the wave for comparison.

Facts

Started
16 Oct 2025, 15:45 UTC
Peak
5 minutes from 16 Oct 2025, 20:30 UTC
Ended
16 Oct 2025, 20:40 UTC
Duration
4 h 55 min
Positions liquidated
325 (326 liquidation events)
Normal level
Median hourly total $39K, 95th percentile $797K, over the 30 days before the day it started
Not valued
1 liquidation could not be valued and is not included
Coverage
On-chain DeFi venues only; verified automatically from the blockchain
By venue
ValuedShare
GMX v2$5.9M54%
Morpho Blue$2.9M27%
Aave v3$2.1M19%
Compound v3$492<1%
Spark$11<1%
By chain
ValuedShare
Arbitrum$6.0M54%
Base$2.9M27%
Ethereum$2.1M19%
By asset
ValuedShare
Bitcoin$5.4M49%
Ethereum$4.8M44%
Other$826K8%
Stablecoins$0<1%

Sources

The largest transactions in the wave, on the chain's block explorer
TransactionVenueValue
0x8c2508bc…706fae Aave v3 (Ethereum) $1.5M
0xe7549d0d…3d3189 GMX v2 (Arbitrum) $1.4M
0x615e7d91…31c566 GMX v2 (Arbitrum) $1.2M
0xd408472b…e07b9d GMX v2 (Arbitrum) $1.0M
0xb4011b85…e69de0 Morpho Blue (Base) $957K
0x7e6a5840…debfb0 GMX v2 (Arbitrum) $629K
0xe6e4716d…a5867c Morpho Blue (Base) $417K
0x8fc5f587…662cdd Morpho Blue (Base) $358K
0x55f5a4f4…56b0b7 Morpho Blue (Base) $333K
0x3d22ef7a…0649b4 Aave v3 (Ethereum) $290K

Values are in USD at the block of each liquidation, from on-chain prices. On-chain liquidation magnitudes measure DeFi venues only and are not yet comparable with hack or depeg magnitudes. Methodology · The magnitude scale