Liquidation wave · Closed
$225.3M on-chain liquidation wave, 6 May 2026
Magnitude
M 5.4
on-chain, scale v1
Liquidated
$225.3M
USD at the block
Liquidations on Aave v3 and GMX v2 (Ethereum, Arbitrum and Base) totalled $225.3M between 18:10 and 18:35 UTC on 6 May 2026. 16 positions were liquidated.
Timeline
All covered venues, with an hour before and after the wave for comparison.
Facts
- Started
- 6 May 2026, 18:10 UTC
- Peak
- 5 minutes from 6 May 2026, 18:10 UTC
- Ended
- 6 May 2026, 18:35 UTC
- Duration
- 25 min
- Positions liquidated
- 16 (16 liquidation events)
- Normal level
- Median hourly total $10K, 95th percentile $205K, over the 30 days before the day it started
- Coverage
- On-chain DeFi venues only; verified automatically from the blockchain
| Valued | Share | |
|---|---|---|
| Aave v3 | $225.3M | 100% |
| GMX v2 | $8K | <1% |
| Valued | Share | |
|---|---|---|
| Ethereum | $134.6M | 60% |
| Arbitrum | $90.7M | 40% |
| Base | $22K | <1% |
| Valued | Share | |
|---|---|---|
| Ethereum | $225.3M | 100% |
| Other | $5K | <1% |
| Bitcoin | $2K | <1% |
Sources
| Transaction | Venue | Value |
|---|---|---|
| 0xe2391ea4…16478f | Aave v3 (Ethereum) | $134.6M |
| 0x78b41623…b6e3c8 | Aave v3 (Arbitrum) | $90.7M |
| 0x59897e7e…256a71 | Aave v3 (Base) | $22K |
| 0xda2845bb…9cdc47 | GMX v2 (Arbitrum) | $3K |
| 0x4260a8c9…03912a | GMX v2 (Arbitrum) | $2K |
| 0x6e578d5d…095a75 | GMX v2 (Arbitrum) | $2K |
| 0xdd7e8ebc…12d709 | GMX v2 (Arbitrum) | $1K |
| 0x2ba783b1…cf1c48 | GMX v2 (Arbitrum) | $202 |
| 0xc1adcba8…399dcc | GMX v2 (Arbitrum) | $166 |
| 0x0162f8e5…7f091d | Aave v3 (Ethereum) | $5 |
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