Seismograph by Cryptograph Club

Liquidation wave · Closed

$18.0M on-chain liquidation wave, 30 Nov 2025

Magnitude M 4.3 on-chain, scale v1
Liquidated $18.0M USD at the block
Busiest hour $16.1M to 1 Dec 2025, 00:50 UTC

Liquidations on GMX v2, Aave v3, Compound v3, Morpho Blue and Spark (Arbitrum, Ethereum and Base) totalled $18.0M between 23:20 UTC on 30 Nov and 04:40 UTC on 1 Dec 2025. The busiest hour saw $16.1M. 413 positions were liquidated.

Timeline

$0$5.0M$10.0M$15.0M30 Nov 22:20–22:25 UTC: $022:2030 Nov 22:25–22:30 UTC: $030 Nov 22:30–22:35 UTC: $96230 Nov 22:35–22:40 UTC: $030 Nov 22:40–22:45 UTC: $030 Nov 22:45–22:50 UTC: $2K30 Nov 22:50–22:55 UTC: $030 Nov 22:55–23:00 UTC: $21930 Nov 23:00–23:05 UTC: $030 Nov 23:05–23:10 UTC: $7K30 Nov 23:10–23:15 UTC: $4K23:1030 Nov 23:15–23:20 UTC: $4K30 Nov 23:20–23:25 UTC: $48K30 Nov 23:25–23:30 UTC: $18K30 Nov 23:30–23:35 UTC: $127K30 Nov 23:35–23:40 UTC: $33K30 Nov 23:40–23:45 UTC: $030 Nov 23:45–23:50 UTC: $6K30 Nov 23:50–23:55 UTC: $391K30 Nov 23:55–00:00 UTC: $54K1 Dec 00:00–00:05 UTC: $261K00:001 Dec 00:05–00:10 UTC: $13.4M1 Dec 00:10–00:15 UTC: $59K1 Dec 00:15–00:20 UTC: $1.7M1 Dec 00:20–00:25 UTC: $28K1 Dec 00:25–00:30 UTC: $27K1 Dec 00:30–00:35 UTC: $52K1 Dec 00:35–00:40 UTC: $119K1 Dec 00:40–00:45 UTC: $12K1 Dec 00:45–00:50 UTC: $38K1 Dec 00:50–00:55 UTC: $102K00:501 Dec 00:55–01:00 UTC: $26K1 Dec 01:00–01:05 UTC: $31K1 Dec 01:05–01:10 UTC: $01 Dec 01:10–01:15 UTC: $3K1 Dec 01:15–01:20 UTC: $2K1 Dec 01:20–01:25 UTC: $6K1 Dec 01:25–01:30 UTC: $01 Dec 01:30–01:35 UTC: $2K1 Dec 01:35–01:40 UTC: $01 Dec 01:40–01:45 UTC: $16601:401 Dec 01:45–01:50 UTC: $01 Dec 01:50–01:55 UTC: $01 Dec 01:55–02:00 UTC: $6381 Dec 02:00–02:05 UTC: $13K1 Dec 02:05–02:10 UTC: $231 Dec 02:10–02:15 UTC: $22K1 Dec 02:15–02:20 UTC: $01 Dec 02:20–02:25 UTC: $10K1 Dec 02:25–02:30 UTC: $01 Dec 02:30–02:35 UTC: $002:301 Dec 02:35–02:40 UTC: $379K1 Dec 02:40–02:45 UTC: $01 Dec 02:45–02:50 UTC: $3071 Dec 02:50–02:55 UTC: $01 Dec 02:55–03:00 UTC: $7K1 Dec 03:00–03:05 UTC: $3061 Dec 03:05–03:10 UTC: $157K1 Dec 03:10–03:15 UTC: $2K1 Dec 03:15–03:20 UTC: $48K1 Dec 03:20–03:25 UTC: $3603:201 Dec 03:25–03:30 UTC: $22K1 Dec 03:30–03:35 UTC: $4K1 Dec 03:35–03:40 UTC: $76K1 Dec 03:40–03:45 UTC: $01 Dec 03:45–03:50 UTC: $01 Dec 03:50–03:55 UTC: $01 Dec 03:55–04:00 UTC: $2K1 Dec 04:00–04:05 UTC: $1351 Dec 04:05–04:10 UTC: $01 Dec 04:10–04:15 UTC: $450K04:101 Dec 04:15–04:20 UTC: $16K1 Dec 04:20–04:25 UTC: $51 Dec 04:25–04:30 UTC: $22K1 Dec 04:30–04:35 UTC: $3K1 Dec 04:35–04:40 UTC: $277K1 Dec 04:40–04:45 UTC: $9K1 Dec 04:45–04:50 UTC: $01 Dec 04:50–04:55 UTC: $15K1 Dec 04:55–05:00 UTC: $14K1 Dec 05:00–05:05 UTC: $22K05:001 Dec 05:05–05:10 UTC: $22K1 Dec 05:10–05:15 UTC: $01 Dec 05:15–05:20 UTC: $01 Dec 05:20–05:25 UTC: $01 Dec 05:25–05:30 UTC: $01 Dec 05:30–05:35 UTC: $19K1 Dec 05:35–05:40 UTC: $0

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

Facts

Started
30 Nov 2025, 23:20 UTC
Peak
5 minutes from 1 Dec 2025, 00:05 UTC
Ended
1 Dec 2025, 04:40 UTC
Duration
5 h 20 min
Positions liquidated
413 (414 liquidation events)
Normal level
Median hourly total $37K, 95th percentile $3.2M, over the 30 days before the day it started
Coverage
On-chain DeFi venues only; verified automatically from the blockchain
By venue
ValuedShare
GMX v2$15.7M87%
Aave v3$2.3M13%
Compound v3$7K<1%
Morpho Blue$6K<1%
Spark$20<1%
By chain
ValuedShare
Arbitrum$15.9M88%
Ethereum$2.2M12%
Base$30K<1%
By asset
ValuedShare
Ethereum$14.9M83%
Other$1.7M9%
Bitcoin$1.4M8%
Stablecoins$208<1%

Sources

The largest transactions in the wave, on the chain's block explorer
TransactionVenueValue
0x47bf3a75…360e87 GMX v2 (Arbitrum) $12.2M
0xd7626f82…e22166 Aave v3 (Ethereum) $1.5M
0x48d40675…728487 Aave v3 (Ethereum) $587K
0x1b95608c…3e1009 GMX v2 (Arbitrum) $353K
0x0c3d6038…bfa99d GMX v2 (Arbitrum) $266K
0x478c6edf…ac8e44 GMX v2 (Arbitrum) $261K
0x87614140…3f3cd6 GMX v2 (Arbitrum) $194K
0xbfae6f4c…4e597f GMX v2 (Arbitrum) $171K
0x796dd81e…eb0378 GMX v2 (Arbitrum) $155K
0x3d1fd830…a2d976 GMX v2 (Arbitrum) $144K

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