Liquidation wave · Closed
$8.9M on-chain liquidation wave, 22 Dec 2025
Magnitude
M 4.0
on-chain, scale v1
Liquidated
$8.9M
USD at the block
Liquidations on GMX v2 and Aave v3 (Arbitrum and Ethereum) totalled $8.9M between 19:05 and 19:10 UTC on 22 Dec 2025. 6 positions were liquidated.
Timeline
All covered venues, with an hour before and after the wave for comparison.
Facts
- Started
- 22 Dec 2025, 19:05 UTC
- Peak
- 5 minutes from 22 Dec 2025, 19:05 UTC
- Ended
- 22 Dec 2025, 19:10 UTC
- Duration
- 5 min
- Positions liquidated
- 6 (6 liquidation events)
- Normal level
- Median hourly total $17K, 95th percentile $430K, over the 30 days before the day it started
- Coverage
- On-chain DeFi venues only; verified automatically from the blockchain
| Valued | Share | |
|---|---|---|
| GMX v2 | $8.9M | 100% |
| Aave v3 | $4 | <1% |
| Valued | Share | |
|---|---|---|
| Arbitrum | $8.9M | 100% |
| Ethereum | $4 | <1% |
| Valued | Share | |
|---|---|---|
| Ethereum | $8.9M | 100% |
| Other | $5K | <1% |
Sources
| Transaction | Venue | Value |
|---|---|---|
| 0x117185d7…2d076e | GMX v2 (Arbitrum) | $8.9M |
| 0x884c4c3f…145213 | GMX v2 (Arbitrum) | $29K |
| 0x1a17a49b…1f2680 | GMX v2 (Arbitrum) | $4K |
| 0x0c0dad97…99a579 | GMX v2 (Arbitrum) | $2K |
| 0xac975f9c…08585d | GMX v2 (Arbitrum) | $490 |
| 0x74835b43…75adf3 | Aave v3 (Ethereum) | $4 |
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