Seismograph by Cryptograph Club

Liquidation wave · Closed

$130.1M on-chain liquidation wave, 21 Nov 2025

Magnitude M 5.1 on-chain, scale v1
Liquidated $130.1M USD at the block
Busiest hour $83.7M to 21 Nov 2025, 08:05 UTC

Liquidations on Aave v3, Morpho Blue, Compound v3, GMX v2 and Spark (Ethereum, Base and Arbitrum) totalled $130.1M between 06:35 and 16:10 UTC on 21 Nov 2025. The busiest hour saw $83.7M. 2,522 positions were liquidated. 3 liquidations could not be valued and are not included.

Timeline

$0$20.0M$40.0M$60.0M21 Nov 05:35–05:40 UTC: $7K05:3521 Nov 05:40–05:45 UTC: $3K21 Nov 05:45–05:50 UTC: $021 Nov 05:50–05:55 UTC: $021 Nov 05:55–06:00 UTC: $39821 Nov 06:00–06:05 UTC: $021 Nov 06:05–06:10 UTC: $621 Nov 06:10–06:15 UTC: $021 Nov 06:15–06:20 UTC: $021 Nov 06:20–06:25 UTC: $10K21 Nov 06:25–06:30 UTC: $65K21 Nov 06:30–06:35 UTC: $021 Nov 06:35–06:40 UTC: $284K21 Nov 06:40–06:45 UTC: $2K21 Nov 06:45–06:50 UTC: $021 Nov 06:50–06:55 UTC: $021 Nov 06:55–07:00 UTC: $7K06:5521 Nov 07:00–07:05 UTC: $82521 Nov 07:05–07:10 UTC: $4K21 Nov 07:10–07:15 UTC: $291K21 Nov 07:15–07:20 UTC: $462K21 Nov 07:20–07:25 UTC: $3.1M21 Nov 07:25–07:30 UTC: $3K21 Nov 07:30–07:35 UTC: $56.2M21 Nov 07:35–07:40 UTC: $23.4M21 Nov 07:40–07:45 UTC: $20521 Nov 07:45–07:50 UTC: $71K21 Nov 07:50–07:55 UTC: $67K21 Nov 07:55–08:00 UTC: $44K21 Nov 08:00–08:05 UTC: $16K21 Nov 08:05–08:10 UTC: $3K21 Nov 08:10–08:15 UTC: $7K21 Nov 08:15–08:20 UTC: $2K08:1521 Nov 08:20–08:25 UTC: $3K21 Nov 08:25–08:30 UTC: $3K21 Nov 08:30–08:35 UTC: $39221 Nov 08:35–08:40 UTC: $27K21 Nov 08:40–08:45 UTC: $1K21 Nov 08:45–08:50 UTC: $121 Nov 08:50–08:55 UTC: $15K21 Nov 08:55–09:00 UTC: $81421 Nov 09:00–09:05 UTC: $1721 Nov 09:05–09:10 UTC: $1121 Nov 09:10–09:15 UTC: $021 Nov 09:15–09:20 UTC: $2321 Nov 09:20–09:25 UTC: $1.8M21 Nov 09:25–09:30 UTC: $98K21 Nov 09:30–09:35 UTC: $362K21 Nov 09:35–09:40 UTC: $640K09:3521 Nov 09:40–09:45 UTC: $462K21 Nov 09:45–09:50 UTC: $4K21 Nov 09:50–09:55 UTC: $10.3M21 Nov 09:55–10:00 UTC: $5K21 Nov 10:00–10:05 UTC: $5.3M21 Nov 10:05–10:10 UTC: $26K21 Nov 10:10–10:15 UTC: $421 Nov 10:15–10:20 UTC: $63K21 Nov 10:20–10:25 UTC: $4K21 Nov 10:25–10:30 UTC: $23K21 Nov 10:30–10:35 UTC: $121 Nov 10:35–10:40 UTC: $11K21 Nov 10:40–10:45 UTC: $1K21 Nov 10:45–10:50 UTC: $31321 Nov 10:50–10:55 UTC: $23K21 Nov 10:55–11:00 UTC: $27110:5521 Nov 11:00–11:05 UTC: $19821 Nov 11:05–11:10 UTC: $31K21 Nov 11:10–11:15 UTC: $021 Nov 11:15–11:20 UTC: $021 Nov 11:20–11:25 UTC: $021 Nov 11:25–11:30 UTC: $021 Nov 11:30–11:35 UTC: $3K21 Nov 11:35–11:40 UTC: $117K21 Nov 11:40–11:45 UTC: $47K21 Nov 11:45–11:50 UTC: $77K21 Nov 11:50–11:55 UTC: $59K21 Nov 11:55–12:00 UTC: $5K21 Nov 12:00–12:05 UTC: $39K21 Nov 12:05–12:10 UTC: $2K21 Nov 12:10–12:15 UTC: $39K21 Nov 12:15–12:20 UTC: $174K12:1521 Nov 12:20–12:25 UTC: $21.1M21 Nov 12:25–12:30 UTC: $3.8M21 Nov 12:30–12:35 UTC: $021 Nov 12:35–12:40 UTC: $19K21 Nov 12:40–12:45 UTC: $22K21 Nov 12:45–12:50 UTC: $021 Nov 12:50–12:55 UTC: $2K21 Nov 12:55–13:00 UTC: $021 Nov 13:00–13:05 UTC: $021 Nov 13:05–13:10 UTC: $156K21 Nov 13:10–13:15 UTC: $021 Nov 13:15–13:20 UTC: $46K21 Nov 13:20–13:25 UTC: $7K21 Nov 13:25–13:30 UTC: $021 Nov 13:30–13:35 UTC: $021 Nov 13:35–13:40 UTC: $013:3521 Nov 13:40–13:45 UTC: $021 Nov 13:45–13:50 UTC: $021 Nov 13:50–13:55 UTC: $14K21 Nov 13:55–14:00 UTC: $111K21 Nov 14:00–14:05 UTC: $113K21 Nov 14:05–14:10 UTC: $1K21 Nov 14:10–14:15 UTC: $82721 Nov 14:15–14:20 UTC: $191K21 Nov 14:20–14:25 UTC: $021 Nov 14:25–14:30 UTC: $23221 Nov 14:30–14:35 UTC: $7K21 Nov 14:35–14:40 UTC: $021 Nov 14:40–14:45 UTC: $141K21 Nov 14:45–14:50 UTC: $3K21 Nov 14:50–14:55 UTC: $2K21 Nov 14:55–15:00 UTC: $014:5521 Nov 15:00–15:05 UTC: $206K21 Nov 15:05–15:10 UTC: $62321 Nov 15:10–15:15 UTC: $294K21 Nov 15:15–15:20 UTC: $43K21 Nov 15:20–15:25 UTC: $30K21 Nov 15:25–15:30 UTC: $5K21 Nov 15:30–15:35 UTC: $5K21 Nov 15:35–15:40 UTC: $44K21 Nov 15:40–15:45 UTC: $121 Nov 15:45–15:50 UTC: $021 Nov 15:50–15:55 UTC: $35K21 Nov 15:55–16:00 UTC: $021 Nov 16:00–16:05 UTC: $19K21 Nov 16:05–16:10 UTC: $54K21 Nov 16:10–16:15 UTC: $2K21 Nov 16:15–16:20 UTC: $82K16:1521 Nov 16:20–16:25 UTC: $4K21 Nov 16:25–16:30 UTC: $021 Nov 16:30–16:35 UTC: $021 Nov 16:35–16:40 UTC: $33K21 Nov 16:40–16:45 UTC: $021 Nov 16:45–16:50 UTC: $021 Nov 16:50–16:55 UTC: $16K21 Nov 16:55–17:00 UTC: $021 Nov 17:00–17:05 UTC: $4K21 Nov 17:05–17:10 UTC: $7K

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

Facts

Started
21 Nov 2025, 06:35 UTC
Peak
5 minutes from 21 Nov 2025, 07:30 UTC
Ended
21 Nov 2025, 16:10 UTC
Duration
9 h 35 min
Positions liquidated
2,522 (2,524 liquidation events)
Normal level
Median hourly total $41K, 95th percentile $2.9M, over the 30 days before the day it started
Not valued
3 liquidations could not be valued and are not included
Coverage
On-chain DeFi venues only; verified automatically from the blockchain
By venue
ValuedShare
Aave v3$60.7M47%
Morpho Blue$34.7M27%
Compound v3$19.8M15%
GMX v2$14.8M11%
Spark$181K<1%
By chain
ValuedShare
Ethereum$79.6M61%
Base$32.4M25%
Arbitrum$18.1M14%
By asset
ValuedShare
Bitcoin$91.8M71%
Ethereum$31.8M24%
Other$6.4M5%
Stablecoins$129K<1%

Sources

The largest transactions in the wave, on the chain's block explorer
TransactionVenueValue
0xbfa6d26b…eccdcf Compound v3 (Ethereum) $16.8M
0x47fa6174…71588c Aave v3 (Ethereum) $10.4M
0xe654124e…6aa8a7 Aave v3 (Ethereum) $7.0M
0xa53ee4fa…5d8e28 Aave v3 (Ethereum) $6.3M
0xe9df4dd4…9ae26d Aave v3 (Ethereum) $3.9M
0x3838dc09…945156 Morpho Blue (Ethereum) $3.6M
0x2c673ea4…d6c627 Aave v3 (Ethereum) $2.0M
0x2a946c31…fc9f41 GMX v2 (Arbitrum) $1.8M
0xeaf7b096…8fba2c Aave v3 (Ethereum) $1.7M
0x9b2012d9…f11f83 Aave v3 (Ethereum) $1.5M

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