Seismograph by Cryptograph Club

Liquidation wave · Closed

$31.9M on-chain liquidation wave, 14 Nov 2025

Magnitude M 4.5 on-chain, scale v1
Liquidated $31.9M USD at the block
Busiest hour $17.1M to 14 Nov 2025, 12:50 UTC

Liquidations on Morpho Blue, GMX v2, Aave v3, Compound v3 and Spark (Base, Ethereum and Arbitrum) totalled $31.9M between 03:45 and 13:55 UTC on 14 Nov 2025. The busiest hour saw $17.1M. 877 positions were liquidated. 1 liquidation could not be valued and is not included.

Timeline

$0$5.0M$10.0M$15.0M14 Nov 02:45–02:50 UTC: $002:4514 Nov 02:50–02:55 UTC: $914 Nov 02:55–03:00 UTC: $1K14 Nov 03:00–03:05 UTC: $014 Nov 03:05–03:10 UTC: $014 Nov 03:10–03:15 UTC: $014 Nov 03:15–03:20 UTC: $014 Nov 03:20–03:25 UTC: $014 Nov 03:25–03:30 UTC: $014 Nov 03:30–03:35 UTC: $19714 Nov 03:35–03:40 UTC: $4K14 Nov 03:40–03:45 UTC: $114 Nov 03:45–03:50 UTC: $106K14 Nov 03:50–03:55 UTC: $014 Nov 03:55–04:00 UTC: $39714 Nov 04:00–04:05 UTC: $014 Nov 04:05–04:10 UTC: $14K14 Nov 04:10–04:15 UTC: $004:1014 Nov 04:15–04:20 UTC: $014 Nov 04:20–04:25 UTC: $014 Nov 04:25–04:30 UTC: $014 Nov 04:30–04:35 UTC: $213K14 Nov 04:35–04:40 UTC: $5.8M14 Nov 04:40–04:45 UTC: $1.2M14 Nov 04:45–04:50 UTC: $014 Nov 04:50–04:55 UTC: $3K14 Nov 04:55–05:00 UTC: $2K14 Nov 05:00–05:05 UTC: $10K14 Nov 05:05–05:10 UTC: $75614 Nov 05:10–05:15 UTC: $7K14 Nov 05:15–05:20 UTC: $114 Nov 05:20–05:25 UTC: $014 Nov 05:25–05:30 UTC: $014 Nov 05:30–05:35 UTC: $7K14 Nov 05:35–05:40 UTC: $56K05:3514 Nov 05:40–05:45 UTC: $2K14 Nov 05:45–05:50 UTC: $11K14 Nov 05:50–05:55 UTC: $014 Nov 05:55–06:00 UTC: $014 Nov 06:00–06:05 UTC: $014 Nov 06:05–06:10 UTC: $014 Nov 06:10–06:15 UTC: $31K14 Nov 06:15–06:20 UTC: $273K14 Nov 06:20–06:25 UTC: $20K14 Nov 06:25–06:30 UTC: $97K14 Nov 06:30–06:35 UTC: $1014 Nov 06:35–06:40 UTC: $142K14 Nov 06:40–06:45 UTC: $17K14 Nov 06:45–06:50 UTC: $3.6M14 Nov 06:50–06:55 UTC: $14K14 Nov 06:55–07:00 UTC: $13K14 Nov 07:00–07:05 UTC: $22K07:0014 Nov 07:05–07:10 UTC: $46K14 Nov 07:10–07:15 UTC: $22K14 Nov 07:15–07:20 UTC: $014 Nov 07:20–07:25 UTC: $014 Nov 07:25–07:30 UTC: $014 Nov 07:30–07:35 UTC: $014 Nov 07:35–07:40 UTC: $2K14 Nov 07:40–07:45 UTC: $014 Nov 07:45–07:50 UTC: $4K14 Nov 07:50–07:55 UTC: $014 Nov 07:55–08:00 UTC: $82514 Nov 08:00–08:05 UTC: $014 Nov 08:05–08:10 UTC: $014 Nov 08:10–08:15 UTC: $37K14 Nov 08:15–08:20 UTC: $014 Nov 08:20–08:25 UTC: $014 Nov 08:25–08:30 UTC: $008:2514 Nov 08:30–08:35 UTC: $014 Nov 08:35–08:40 UTC: $014 Nov 08:40–08:45 UTC: $014 Nov 08:45–08:50 UTC: $4K14 Nov 08:50–08:55 UTC: $014 Nov 08:55–09:00 UTC: $014 Nov 09:00–09:05 UTC: $014 Nov 09:05–09:10 UTC: $014 Nov 09:10–09:15 UTC: $014 Nov 09:15–09:20 UTC: $3K14 Nov 09:20–09:25 UTC: $014 Nov 09:25–09:30 UTC: $014 Nov 09:30–09:35 UTC: $69K14 Nov 09:35–09:40 UTC: $014 Nov 09:40–09:45 UTC: $1K14 Nov 09:45–09:50 UTC: $114 Nov 09:50–09:55 UTC: $40K09:5014 Nov 09:55–10:00 UTC: $9414 Nov 10:00–10:05 UTC: $014 Nov 10:05–10:10 UTC: $014 Nov 10:10–10:15 UTC: $014 Nov 10:15–10:20 UTC: $014 Nov 10:20–10:25 UTC: $014 Nov 10:25–10:30 UTC: $014 Nov 10:30–10:35 UTC: $014 Nov 10:35–10:40 UTC: $014 Nov 10:40–10:45 UTC: $014 Nov 10:45–10:50 UTC: $014 Nov 10:50–10:55 UTC: $6K14 Nov 10:55–11:00 UTC: $13K14 Nov 11:00–11:05 UTC: $014 Nov 11:05–11:10 UTC: $2K14 Nov 11:10–11:15 UTC: $014 Nov 11:15–11:20 UTC: $2K11:1514 Nov 11:20–11:25 UTC: $014 Nov 11:25–11:30 UTC: $014 Nov 11:30–11:35 UTC: $4K14 Nov 11:35–11:40 UTC: $98K14 Nov 11:40–11:45 UTC: $2.0M14 Nov 11:45–11:50 UTC: $014 Nov 11:50–11:55 UTC: $627K14 Nov 11:55–12:00 UTC: $136K14 Nov 12:00–12:05 UTC: $20814 Nov 12:05–12:10 UTC: $1K14 Nov 12:10–12:15 UTC: $271K14 Nov 12:15–12:20 UTC: $122K14 Nov 12:20–12:25 UTC: $294K14 Nov 12:25–12:30 UTC: $014 Nov 12:30–12:35 UTC: $1.1M14 Nov 12:35–12:40 UTC: $3.2M14 Nov 12:40–12:45 UTC: $11.4M12:4014 Nov 12:45–12:50 UTC: $16K14 Nov 12:50–12:55 UTC: $1K14 Nov 12:55–13:00 UTC: $1K14 Nov 13:00–13:05 UTC: $3K14 Nov 13:05–13:10 UTC: $014 Nov 13:10–13:15 UTC: $61K14 Nov 13:15–13:20 UTC: $69314 Nov 13:20–13:25 UTC: $512K14 Nov 13:25–13:30 UTC: $014 Nov 13:30–13:35 UTC: $39K14 Nov 13:35–13:40 UTC: $70K14 Nov 13:40–13:45 UTC: $26814 Nov 13:45–13:50 UTC: $014 Nov 13:50–13:55 UTC: $53K14 Nov 13:55–14:00 UTC: $014 Nov 14:00–14:05 UTC: $014 Nov 14:05–14:10 UTC: $2K14:0514 Nov 14:10–14:15 UTC: $014 Nov 14:15–14:20 UTC: $3K14 Nov 14:20–14:25 UTC: $51014 Nov 14:25–14:30 UTC: $43314 Nov 14:30–14:35 UTC: $299K14 Nov 14:35–14:40 UTC: $66K14 Nov 14:40–14:45 UTC: $014 Nov 14:45–14:50 UTC: $014 Nov 14:50–14:55 UTC: $2K

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

Facts

Started
14 Nov 2025, 03:45 UTC
Peak
5 minutes from 14 Nov 2025, 12:40 UTC
Ended
14 Nov 2025, 13:55 UTC
Duration
10 h 10 min
Positions liquidated
877 (877 liquidation events)
Normal level
Median hourly total $37K, 95th percentile $2.0M, over the 30 days before the day it started
Merged
1 later wave started less than 6 hours after this one ended and is counted here
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
Morpho Blue$21.2M66%
GMX v2$6.4M20%
Aave v3$3.6M11%
Compound v3$716K2%
Spark$25K<1%
By chain
ValuedShare
Base$16.4M51%
Ethereum$8.5M27%
Arbitrum$7.0M22%
By asset
ValuedShare
Bitcoin$27.7M87%
Other$2.9M9%
Ethereum$1.3M4%
Stablecoins$41K<1%

Sources

The largest transactions in the wave, on the chain's block explorer
TransactionVenueValue
0x3e2ddbb1…8449fa Morpho Blue (Ethereum) $4.1M
0x966e2e59…bc3d51 GMX v2 (Arbitrum) $1.2M
0xdd5ced08…ffa7a2 GMX v2 (Arbitrum) $1.1M
0xfd0e8075…ee2698 Morpho Blue (Base) $1.1M
0xdbd73230…2a1d24 Morpho Blue (Base) $1.1M
0x884abf43…9bd521 Morpho Blue (Base) $989K
0x62d084b6…0049a4 Morpho Blue (Base) $873K
0x2cad4a98…a6c5cf Morpho Blue (Base) $841K
0xe21f3131…bd9548 Aave v3 (Ethereum) $809K
0x245c8fb3…1ca6de Morpho Blue (Base) $806K

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