Seismograph by Cryptograph Club

Liquidation wave · Closed

$9.9M on-chain liquidation wave, 18 Mar 2026

Magnitude M 4.0 on-chain, scale v1
Liquidated $9.9M USD at the block
Busiest hour $9.8M to 18 Mar 2026, 15:40 UTC

Liquidations on GMX v2, Aave v3, Compound v3 and Morpho Blue (Arbitrum, Ethereum and Base) totalled $9.9M between 14:40 and 16:10 UTC on 18 Mar 2026. The busiest hour saw $9.8M. 44 positions were liquidated.

Timeline

$0$5.0M$10.0M18 Mar 13:40–13:45 UTC: $10K13:4018 Mar 13:45–13:50 UTC: $018 Mar 13:50–13:55 UTC: $018 Mar 13:55–14:00 UTC: $16018 Mar 14:00–14:05 UTC: $30K18 Mar 14:05–14:10 UTC: $42814:0518 Mar 14:10–14:15 UTC: $15K18 Mar 14:15–14:20 UTC: $26818 Mar 14:20–14:25 UTC: $018 Mar 14:25–14:30 UTC: $21K18 Mar 14:30–14:35 UTC: $5K14:3018 Mar 14:35–14:40 UTC: $018 Mar 14:40–14:45 UTC: $81K18 Mar 14:45–14:50 UTC: $26K18 Mar 14:50–14:55 UTC: $6K18 Mar 14:55–15:00 UTC: $21K14:5518 Mar 15:00–15:05 UTC: $95K18 Mar 15:05–15:10 UTC: $018 Mar 15:10–15:15 UTC: $9.5M18 Mar 15:15–15:20 UTC: $018 Mar 15:20–15:25 UTC: $015:2018 Mar 15:25–15:30 UTC: $018 Mar 15:30–15:35 UTC: $018 Mar 15:35–15:40 UTC: $20K18 Mar 15:40–15:45 UTC: $018 Mar 15:45–15:50 UTC: $015:4518 Mar 15:50–15:55 UTC: $018 Mar 15:55–16:00 UTC: $018 Mar 16:00–16:05 UTC: $98818 Mar 16:05–16:10 UTC: $97K18 Mar 16:10–16:15 UTC: $26K16:1018 Mar 16:15–16:20 UTC: $70018 Mar 16:20–16:25 UTC: $018 Mar 16:25–16:30 UTC: $018 Mar 16:30–16:35 UTC: $018 Mar 16:35–16:40 UTC: $016:3518 Mar 16:40–16:45 UTC: $8K18 Mar 16:45–16:50 UTC: $018 Mar 16:50–16:55 UTC: $21318 Mar 16:55–17:00 UTC: $018 Mar 17:00–17:05 UTC: $83K17:0018 Mar 17:05–17:10 UTC: $3K

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

Facts

Started
18 Mar 2026, 14:40 UTC
Peak
5 minutes from 18 Mar 2026, 15:10 UTC
Ended
18 Mar 2026, 16:10 UTC
Duration
1 h 30 min
Positions liquidated
44 (44 liquidation events)
Normal level
Median hourly total $9K, 95th percentile $377K, 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$9.8M100%
Aave v3$7K<1%
Compound v3$3<1%
Morpho Blue$2<1%
By chain
ValuedShare
Arbitrum$9.8M100%
Ethereum$6K<1%
Base$5<1%
By asset
ValuedShare
Ethereum$9.6M97%
Other$158K2%
Bitcoin$90K<1%

Sources

The largest transactions in the wave, on the chain's block explorer
TransactionVenueValue
0x191cb9fa…0c38f9 GMX v2 (Arbitrum) $9.5M
0xd3129691…2b2ff2 GMX v2 (Arbitrum) $97K
0x48efa6b8…f35d48 GMX v2 (Arbitrum) $80K
0xa6e45c10…5a992f GMX v2 (Arbitrum) $69K
0x86d823f2…364786 GMX v2 (Arbitrum) $26K
0xbed2d572…839fa4 GMX v2 (Arbitrum) $20K
0xc63efe7f…91e88e GMX v2 (Arbitrum) $14K
0xebcc9ea9…e26fc9 GMX v2 (Arbitrum) $9K
0xa2d09a5b…4bb018 GMX v2 (Arbitrum) $6K
0xfb9ecd52…0b2a1d Aave v3 (Ethereum) $5K

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