Seismograph by Cryptograph Club

Liquidation wave · Closed

$49.4M on-chain liquidation wave, 17 Oct 2025

Magnitude M 4.7 on-chain, scale v1
Liquidated $49.4M USD at the block
Busiest hour $22.5M to 17 Oct 2025, 07:35 UTC

Liquidations on GMX v2, Morpho Blue, Aave v3 and Compound v3 (Arbitrum, Ethereum and Base) totalled $49.4M between 06:20 and 14:45 UTC on 17 Oct 2025. The busiest hour saw $22.5M. 992 positions were liquidated. 1 liquidation could not be valued and is not included.

Timeline

$0$5.0M$10.0M$15.0M17 Oct 05:20–05:25 UTC: $005:2017 Oct 05:25–05:30 UTC: $017 Oct 05:30–05:35 UTC: $8K17 Oct 05:35–05:40 UTC: $017 Oct 05:40–05:45 UTC: $5K17 Oct 05:45–05:50 UTC: $10K17 Oct 05:50–05:55 UTC: $27K17 Oct 05:55–06:00 UTC: $017 Oct 06:00–06:05 UTC: $017 Oct 06:05–06:10 UTC: $017 Oct 06:10–06:15 UTC: $017 Oct 06:15–06:20 UTC: $24K17 Oct 06:20–06:25 UTC: $67K17 Oct 06:25–06:30 UTC: $34K17 Oct 06:30–06:35 UTC: $363K06:3017 Oct 06:35–06:40 UTC: $2.8M17 Oct 06:40–06:45 UTC: $74K17 Oct 06:45–06:50 UTC: $10.5M17 Oct 06:50–06:55 UTC: $105K17 Oct 06:55–07:00 UTC: $35K17 Oct 07:00–07:05 UTC: $35K17 Oct 07:05–07:10 UTC: $4.6M17 Oct 07:10–07:15 UTC: $380K17 Oct 07:15–07:20 UTC: $243K17 Oct 07:20–07:25 UTC: $25K17 Oct 07:25–07:30 UTC: $39K17 Oct 07:30–07:35 UTC: $3.6M17 Oct 07:35–07:40 UTC: $738K17 Oct 07:40–07:45 UTC: $129K07:4017 Oct 07:45–07:50 UTC: $22K17 Oct 07:50–07:55 UTC: $67K17 Oct 07:55–08:00 UTC: $899K17 Oct 08:00–08:05 UTC: $1.4M17 Oct 08:05–08:10 UTC: $1.1M17 Oct 08:10–08:15 UTC: $29K17 Oct 08:15–08:20 UTC: $5.5M17 Oct 08:20–08:25 UTC: $1.4M17 Oct 08:25–08:30 UTC: $19K17 Oct 08:30–08:35 UTC: $017 Oct 08:35–08:40 UTC: $62K17 Oct 08:40–08:45 UTC: $12K17 Oct 08:45–08:50 UTC: $11K17 Oct 08:50–08:55 UTC: $32K08:5017 Oct 08:55–09:00 UTC: $10K17 Oct 09:00–09:05 UTC: $1.8M17 Oct 09:05–09:10 UTC: $017 Oct 09:10–09:15 UTC: $1K17 Oct 09:15–09:20 UTC: $4K17 Oct 09:20–09:25 UTC: $31117 Oct 09:25–09:30 UTC: $1K17 Oct 09:30–09:35 UTC: $2K17 Oct 09:35–09:40 UTC: $967K17 Oct 09:40–09:45 UTC: $3K17 Oct 09:45–09:50 UTC: $19517 Oct 09:50–09:55 UTC: $017 Oct 09:55–10:00 UTC: $54K17 Oct 10:00–10:05 UTC: $1K10:0017 Oct 10:05–10:10 UTC: $12K17 Oct 10:10–10:15 UTC: $1.3M17 Oct 10:15–10:20 UTC: $853K17 Oct 10:20–10:25 UTC: $6.1M17 Oct 10:25–10:30 UTC: $711K17 Oct 10:30–10:35 UTC: $2517 Oct 10:35–10:40 UTC: $017 Oct 10:40–10:45 UTC: $72417 Oct 10:45–10:50 UTC: $017 Oct 10:50–10:55 UTC: $14K17 Oct 10:55–11:00 UTC: $3K17 Oct 11:00–11:05 UTC: $1K17 Oct 11:05–11:10 UTC: $017 Oct 11:10–11:15 UTC: $1K11:1017 Oct 11:15–11:20 UTC: $2K17 Oct 11:20–11:25 UTC: $017 Oct 11:25–11:30 UTC: $1K17 Oct 11:30–11:35 UTC: $017 Oct 11:35–11:40 UTC: $64217 Oct 11:40–11:45 UTC: $017 Oct 11:45–11:50 UTC: $017 Oct 11:50–11:55 UTC: $017 Oct 11:55–12:00 UTC: $017 Oct 12:00–12:05 UTC: $017 Oct 12:05–12:10 UTC: $54117 Oct 12:10–12:15 UTC: $6K17 Oct 12:15–12:20 UTC: $017 Oct 12:20–12:25 UTC: $4K12:2017 Oct 12:25–12:30 UTC: $017 Oct 12:30–12:35 UTC: $499K17 Oct 12:35–12:40 UTC: $35K17 Oct 12:40–12:45 UTC: $21217 Oct 12:45–12:50 UTC: $117 Oct 12:50–12:55 UTC: $51K17 Oct 12:55–13:00 UTC: $7K17 Oct 13:00–13:05 UTC: $017 Oct 13:05–13:10 UTC: $017 Oct 13:10–13:15 UTC: $5K17 Oct 13:15–13:20 UTC: $5K17 Oct 13:20–13:25 UTC: $34417 Oct 13:25–13:30 UTC: $117 Oct 13:30–13:35 UTC: $013:3017 Oct 13:35–13:40 UTC: $017 Oct 13:40–13:45 UTC: $77K17 Oct 13:45–13:50 UTC: $14K17 Oct 13:50–13:55 UTC: $017 Oct 13:55–14:00 UTC: $017 Oct 14:00–14:05 UTC: $017 Oct 14:05–14:10 UTC: $017 Oct 14:10–14:15 UTC: $017 Oct 14:15–14:20 UTC: $017 Oct 14:20–14:25 UTC: $017 Oct 14:25–14:30 UTC: $88817 Oct 14:30–14:35 UTC: $885K17 Oct 14:35–14:40 UTC: $24K17 Oct 14:40–14:45 UTC: $1.5M14:4017 Oct 14:45–14:50 UTC: $12K17 Oct 14:50–14:55 UTC: $017 Oct 14:55–15:00 UTC: $017 Oct 15:00–15:05 UTC: $017 Oct 15:05–15:10 UTC: $14717 Oct 15:10–15:15 UTC: $017 Oct 15:15–15:20 UTC: $017 Oct 15:20–15:25 UTC: $017 Oct 15:25–15:30 UTC: $49017 Oct 15:30–15:35 UTC: $49017 Oct 15:35–15:40 UTC: $117 Oct 15:40–15:45 UTC: $146

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

Facts

Started
17 Oct 2025, 06:20 UTC
Peak
5 minutes from 17 Oct 2025, 06:45 UTC
Ended
17 Oct 2025, 14:45 UTC
Duration
8 h 25 min
Positions liquidated
992 (995 liquidation events)
Normal level
Median hourly total $43K, 95th percentile $908K, 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$24.6M50%
Morpho Blue$18.5M37%
Aave v3$6.3M13%
Compound v3$6K<1%
By chain
ValuedShare
Arbitrum$24.9M50%
Ethereum$15.0M30%
Base$9.5M19%
By asset
ValuedShare
Bitcoin$26.5M54%
Ethereum$13.2M27%
Other$9.7M20%
Stablecoins$35K<1%

Sources

The largest transactions in the wave, on the chain's block explorer
TransactionVenueValue
0x1fae6460…bce765 Morpho Blue (Ethereum) $9.0M
0x598c4c2b…becaf1 GMX v2 (Arbitrum) $2.3M
0x8f2539cf…627147 GMX v2 (Arbitrum) $2.3M
0xcd31c10a…38b02f GMX v2 (Arbitrum) $2.0M
0x1e699dc6…9ebb2f GMX v2 (Arbitrum) $1.8M
0xd78f896d…4db885 GMX v2 (Arbitrum) $1.6M
0x6d568f40…6b8fa9 GMX v2 (Arbitrum) $1.4M
0x7a4d328d…37db10 Aave v3 (Ethereum) $1.3M
0x23aa5846…41a89f Aave v3 (Ethereum) $1.3M
0x69ff5bb4…5410c3 GMX v2 (Arbitrum) $1.1M

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