Seismograph by Cryptograph Club

Liquidation wave · Closed

$59.0M on-chain liquidation wave, 16 Nov 2025

Magnitude M 4.8 on-chain, scale v1
Liquidated $59.0M USD at the block
Busiest hour $21.8M to 16 Nov 2025, 23:05 UTC

Liquidations on Aave v3, GMX v2, Morpho Blue, Spark and Compound v3 (Ethereum, Arbitrum and Base) totalled $59.0M between 15:50 and 23:25 UTC on 16 Nov 2025. The busiest hour saw $21.8M. 629 positions were liquidated. 1 liquidation could not be valued and is not included.

Timeline

$0$5.0M$10.0M$15.0M$20.0M16 Nov 14:50–14:55 UTC: $5K14:5016 Nov 14:55–15:00 UTC: $016 Nov 15:00–15:05 UTC: $016 Nov 15:05–15:10 UTC: $016 Nov 15:10–15:15 UTC: $016 Nov 15:15–15:20 UTC: $016 Nov 15:20–15:25 UTC: $016 Nov 15:25–15:30 UTC: $016 Nov 15:30–15:35 UTC: $1K16 Nov 15:35–15:40 UTC: $016 Nov 15:40–15:45 UTC: $62316 Nov 15:45–15:50 UTC: $88216 Nov 15:50–15:55 UTC: $162K16 Nov 15:55–16:00 UTC: $22K15:5516 Nov 16:00–16:05 UTC: $491K16 Nov 16:05–16:10 UTC: $2K16 Nov 16:10–16:15 UTC: $25K16 Nov 16:15–16:20 UTC: $34K16 Nov 16:20–16:25 UTC: $19K16 Nov 16:25–16:30 UTC: $81K16 Nov 16:30–16:35 UTC: $96K16 Nov 16:35–16:40 UTC: $4K16 Nov 16:40–16:45 UTC: $7K16 Nov 16:45–16:50 UTC: $10.3M16 Nov 16:50–16:55 UTC: $1K16 Nov 16:55–17:00 UTC: $237K16 Nov 17:00–17:05 UTC: $154K17:0016 Nov 17:05–17:10 UTC: $2K16 Nov 17:10–17:15 UTC: $10K16 Nov 17:15–17:20 UTC: $100K16 Nov 17:20–17:25 UTC: $016 Nov 17:25–17:30 UTC: $59016 Nov 17:30–17:35 UTC: $101K16 Nov 17:35–17:40 UTC: $46416 Nov 17:40–17:45 UTC: $14K16 Nov 17:45–17:50 UTC: $76K16 Nov 17:50–17:55 UTC: $5K16 Nov 17:55–18:00 UTC: $15.4M16 Nov 18:00–18:05 UTC: $267K16 Nov 18:05–18:10 UTC: $018:0516 Nov 18:10–18:15 UTC: $69K16 Nov 18:15–18:20 UTC: $016 Nov 18:20–18:25 UTC: $016 Nov 18:25–18:30 UTC: $72616 Nov 18:30–18:35 UTC: $55K16 Nov 18:35–18:40 UTC: $1116 Nov 18:40–18:45 UTC: $5K16 Nov 18:45–18:50 UTC: $232K16 Nov 18:50–18:55 UTC: $1916 Nov 18:55–19:00 UTC: $916 Nov 19:00–19:05 UTC: $2416 Nov 19:05–19:10 UTC: $516 Nov 19:10–19:15 UTC: $24319:1016 Nov 19:15–19:20 UTC: $12K16 Nov 19:20–19:25 UTC: $6K16 Nov 19:25–19:30 UTC: $016 Nov 19:30–19:35 UTC: $016 Nov 19:35–19:40 UTC: $016 Nov 19:40–19:45 UTC: $33K16 Nov 19:45–19:50 UTC: $016 Nov 19:50–19:55 UTC: $116 Nov 19:55–20:00 UTC: $3K16 Nov 20:00–20:05 UTC: $016 Nov 20:05–20:10 UTC: $016 Nov 20:10–20:15 UTC: $016 Nov 20:15–20:20 UTC: $020:1516 Nov 20:20–20:25 UTC: $1416 Nov 20:25–20:30 UTC: $016 Nov 20:30–20:35 UTC: $016 Nov 20:35–20:40 UTC: $016 Nov 20:40–20:45 UTC: $116 Nov 20:45–20:50 UTC: $016 Nov 20:50–20:55 UTC: $016 Nov 20:55–21:00 UTC: $5K16 Nov 21:00–21:05 UTC: $41416 Nov 21:05–21:10 UTC: $58K16 Nov 21:10–21:15 UTC: $238K16 Nov 21:15–21:20 UTC: $3K16 Nov 21:20–21:25 UTC: $86K21:2016 Nov 21:25–21:30 UTC: $4K16 Nov 21:30–21:35 UTC: $11K16 Nov 21:35–21:40 UTC: $18K16 Nov 21:40–21:45 UTC: $6.4M16 Nov 21:45–21:50 UTC: $7K16 Nov 21:50–21:55 UTC: $016 Nov 21:55–22:00 UTC: $016 Nov 22:00–22:05 UTC: $2.2M16 Nov 22:05–22:10 UTC: $2.0M16 Nov 22:10–22:15 UTC: $71K16 Nov 22:15–22:20 UTC: $016 Nov 22:20–22:25 UTC: $016 Nov 22:25–22:30 UTC: $022:2516 Nov 22:30–22:35 UTC: $016 Nov 22:35–22:40 UTC: $016 Nov 22:40–22:45 UTC: $016 Nov 22:45–22:50 UTC: $176K16 Nov 22:50–22:55 UTC: $258K16 Nov 22:55–23:00 UTC: $32416 Nov 23:00–23:05 UTC: $19.3M16 Nov 23:05–23:10 UTC: $16016 Nov 23:10–23:15 UTC: $016 Nov 23:15–23:20 UTC: $016 Nov 23:20–23:25 UTC: $128K16 Nov 23:25–23:30 UTC: $016 Nov 23:30–23:35 UTC: $023:3016 Nov 23:35–23:40 UTC: $11K16 Nov 23:40–23:45 UTC: $016 Nov 23:45–23:50 UTC: $016 Nov 23:50–23:55 UTC: $016 Nov 23:55–00:00 UTC: $017 Nov 00:00–00:05 UTC: $017 Nov 00:05–00:10 UTC: $017 Nov 00:10–00:15 UTC: $66717 Nov 00:15–00:20 UTC: $44K17 Nov 00:20–00:25 UTC: $0

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

Facts

Started
16 Nov 2025, 15:50 UTC
Peak
5 minutes from 16 Nov 2025, 23:00 UTC
Ended
16 Nov 2025, 23:25 UTC
Duration
7 h 35 min
Positions liquidated
629 (629 liquidation events)
Normal level
Median hourly total $37K, 95th percentile $2.1M, 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
Aave v3$36.1M61%
GMX v2$13.3M23%
Morpho Blue$9.2M16%
Spark$166K<1%
Compound v3$159K<1%
By chain
ValuedShare
Ethereum$41.3M70%
Arbitrum$14.2M24%
Base$3.5M6%
By asset
ValuedShare
Ethereum$35.6M60%
Bitcoin$22.2M38%
Other$1.2M2%
Stablecoins$26K<1%

Sources

The largest transactions in the wave, on the chain's block explorer
TransactionVenueValue
0x2e838e55…f66d8a Aave v3 (Ethereum) $13.9M
0x3d176826…3be1a9 GMX v2 (Arbitrum) $10.2M
0x00d1c211…1a72cf Aave v3 (Ethereum) $9.7M
0x7b654343…c084f0 Aave v3 (Ethereum) $7.8M
0x4654f2c4…0e52f6 Morpho Blue (Ethereum) $5.5M
0x04b66cd5…584525 Aave v3 (Ethereum) $1.4M
0x0388eb69…782b01 Morpho Blue (Base) $1.1M
0x610d5389…6f4088 Morpho Blue (Base) $719K
0x396865e0…d4a747 Aave v3 (Arbitrum) $692K
0xf65d29f1…c28741 Aave v3 (Ethereum) $600K

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