Seismograph by Cryptograph Club

Liquidation wave · Closed

$8.6M on-chain liquidation wave, 17 May 2026

Magnitude M 3.9 on-chain, scale v1
Liquidated $8.6M USD at the block

Liquidations on GMX v2, Morpho Blue, Aave v3, Aave v4, Spark and Compound v3 (Arbitrum, Base and Ethereum) totalled $8.6M between 23:15 and 23:55 UTC on 17 May 2026. 316 positions were liquidated. 2 liquidations could not be valued and are not included.

Timeline

$0$5.0M$10.0M17 May 22:15–22:20 UTC: $022:1517 May 22:20–22:25 UTC: $4K17 May 22:25–22:30 UTC: $017 May 22:30–22:35 UTC: $017 May 22:35–22:40 UTC: $022:3517 May 22:40–22:45 UTC: $017 May 22:45–22:50 UTC: $017 May 22:50–22:55 UTC: $017 May 22:55–23:00 UTC: $022:5517 May 23:00–23:05 UTC: $5K17 May 23:05–23:10 UTC: $8K17 May 23:10–23:15 UTC: $017 May 23:15–23:20 UTC: $147K23:1517 May 23:20–23:25 UTC: $017 May 23:25–23:30 UTC: $11817 May 23:30–23:35 UTC: $017 May 23:35–23:40 UTC: $10K23:3517 May 23:40–23:45 UTC: $8.4M17 May 23:45–23:50 UTC: $48317 May 23:50–23:55 UTC: $46K17 May 23:55–00:00 UTC: $023:5518 May 00:00–00:05 UTC: $018 May 00:05–00:10 UTC: $018 May 00:10–00:15 UTC: $28K18 May 00:15–00:20 UTC: $000:1518 May 00:20–00:25 UTC: $018 May 00:25–00:30 UTC: $6K18 May 00:30–00:35 UTC: $5K18 May 00:35–00:40 UTC: $000:3518 May 00:40–00:45 UTC: $49K18 May 00:45–00:50 UTC: $018 May 00:50–00:55 UTC: $0

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

Facts

Started
17 May 2026, 23:15 UTC
Peak
5 minutes from 17 May 2026, 23:40 UTC
Ended
17 May 2026, 23:55 UTC
Duration
40 min
Positions liquidated
316 (317 liquidation events)
Normal level
Median hourly total $12K, 95th percentile $255K, over the 30 days before the day it started
Not valued
2 liquidations could not be valued and are not included
Coverage
On-chain DeFi venues only; verified automatically from the blockchain
By venue
ValuedShare
GMX v2$7.4M85%
Morpho Blue$637K7%
Aave v3$633K7%
Aave v4$6K<1%
Spark$629<1%
Compound v3$0<1%
By chain
ValuedShare
Arbitrum$7.4M86%
Base$680K8%
Ethereum$563K7%
By asset
ValuedShare
Ethereum$7.3M85%
Other$997K12%
Bitcoin$312K4%
Stablecoins$2<1%

Sources

The largest transactions in the wave, on the chain's block explorer
TransactionVenueValue
0x74de919c…1d8125 GMX v2 (Arbitrum) $5.7M
0x358d06f8…723654 Morpho Blue (Base) $314K
0xf7394abe…ae2e0f Aave v3 (Ethereum) $245K
0x81fbd95d…b176cf Aave v3 (Ethereum) $222K
0x39f17cc7…07b05a GMX v2 (Arbitrum) $215K
0x5f09877c…c24e12 GMX v2 (Arbitrum) $179K
0xb878447d…a91056 GMX v2 (Arbitrum) $96K
0x82e4ae85…437e72 GMX v2 (Arbitrum) $95K
0x4d5d9a98…5fd25a GMX v2 (Arbitrum) $74K
0x5b361975…450d12 Aave v3 (Ethereum) $66K

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