Seismograph by Cryptograph Club

Liquidation wave · Closed

$442.9M on-chain liquidation wave, 4 Feb 2026

Magnitude M 5.6 on-chain, scale v1
Liquidated $442.9M USD at the block
Busiest hour $130.4M to 6 Feb 2026, 00:40 UTC

Liquidations on Aave v3, Morpho Blue, GMX v2, Compound v3, Spark and Sky (Ethereum, Base and Arbitrum) totalled $442.9M between 14:55 UTC on 4 Feb and 01:10 UTC on 6 Feb 2026. The busiest hour saw $130.4M. 12,616 positions were liquidated. 64 liquidations could not be valued and are not included.

Timeline

$0$50.0M$100.0M$150.0M4 Feb 13:00–14:00 UTC: $43K4 Feb 13:004 Feb 14:00–15:00 UTC: $276K4 Feb 15:00–16:00 UTC: $5.2M4 Feb 16:00–17:00 UTC: $948K4 Feb 17:00–18:00 UTC: $9.5M4 Feb 18:00–19:00 UTC: $2.5M4 Feb 18:004 Feb 19:00–20:00 UTC: $114K4 Feb 20:00–21:00 UTC: $23K4 Feb 21:00–22:00 UTC: $697K4 Feb 22:00–23:00 UTC: $7.5M4 Feb 23:00–00:00 UTC: $68K4 Feb 23:005 Feb 00:00–01:00 UTC: $6K5 Feb 01:00–02:00 UTC: $105K5 Feb 02:00–03:00 UTC: $6.5M5 Feb 03:00–04:00 UTC: $4.0M5 Feb 04:00–05:00 UTC: $5.7M5 Feb 04:005 Feb 05:00–06:00 UTC: $8.9M5 Feb 06:00–07:00 UTC: $430K5 Feb 07:00–08:00 UTC: $4K5 Feb 08:00–09:00 UTC: $34K5 Feb 09:00–10:00 UTC: $85K5 Feb 09:005 Feb 10:00–11:00 UTC: $54K5 Feb 11:00–12:00 UTC: $4.2M5 Feb 12:00–13:00 UTC: $19.1M5 Feb 13:00–14:00 UTC: $56K5 Feb 14:00–15:00 UTC: $155K5 Feb 14:005 Feb 15:00–16:00 UTC: $92.7M5 Feb 16:00–17:00 UTC: $172K5 Feb 17:00–18:00 UTC: $9.9M5 Feb 18:00–19:00 UTC: $19.5M5 Feb 19:00–20:00 UTC: $3.9M5 Feb 19:005 Feb 20:00–21:00 UTC: $103.1M5 Feb 21:00–22:00 UTC: $1.5M5 Feb 22:00–23:00 UTC: $5.4M5 Feb 23:00–00:00 UTC: $166K6 Feb 00:00–01:00 UTC: $130.3M6 Feb 00:006 Feb 01:00–02:00 UTC: $361K6 Feb 02:00–03:00 UTC: $167K

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

Facts

Started
4 Feb 2026, 14:55 UTC
Peak
5 minutes from 6 Feb 2026, 00:10 UTC
Ended
6 Feb 2026, 01:10 UTC
Duration
34 h 15 min
Positions liquidated
12,616 (12,651 liquidation events)
Normal level
Median hourly total $17K, 95th percentile $1.3M, over the 30 days before the day it started
Merged
3 later waves started less than 6 hours after this one ended and are counted here
Not valued
64 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$231.5M52%
Morpho Blue$157.4M36%
GMX v2$32.9M7%
Compound v3$18.6M4%
Spark$1.5M<1%
Sky$990K<1%
By chain
ValuedShare
Ethereum$244.6M55%
Base$152.1M34%
Arbitrum$46.2M10%
By asset
ValuedShare
Bitcoin$264.0M60%
Ethereum$140.2M32%
Other$36.8M8%
Stablecoins$1.9M<1%

Sources

The largest transactions in the wave, on the chain's block explorer
TransactionVenueValue
0x0fc620ff…c74414 Aave v3 (Ethereum) $19.7M
0x29c91c20…b2b083 Aave v3 (Ethereum) $10.8M
0x5c02031c…cc1d41 Aave v3 (Ethereum) $8.9M
0x1d743b1a…2e7549 Aave v3 (Ethereum) $7.5M
0xf5991487…96b185 GMX v2 (Arbitrum) $5.9M
0xc69c097e…8972b8 Aave v3 (Ethereum) $5.9M
0x8f29f2c0…8e6fa5 Aave v3 (Ethereum) $5.6M
0x54d2d68a…ca4a03 Aave v3 (Ethereum) $4.9M
0x3c219348…539e46 GMX v2 (Arbitrum) $4.1M
0x558faf03…3758d7 Aave v3 (Ethereum) $3.8M

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