ObeliskCore
Detailed analysis of the precise timing patterns, strategy execution, and profit distribution across protocols
Yesterday's liquidation cascade across Aave V3, Compound III, and MakerDAO represents a textbook case study in systematic MEV extraction. Our analysis reveals that the $2.3B event followed a precise 47-minute pattern, with the top 5 searchers capturing 73% of available alpha through coordinated cross-protocol strategies.
The liquidation cascade was triggered by a rapid ETH price decline from $2,847 to $2,623 at 14:23 UTC, representing an 7.9% drop within 8 minutes. This price movement exceeded the critical liquidation thresholds across multiple protocols simultaneously.
ETH breaks $2,700 support
First liquidation on Aave V3
Compound III liquidations begin
Event concludes
The rapid price movement was amplified by algorithmic trading bots executing stop-loss orders, creating a feedback loop that accelerated the liquidation cascade. Our monitoring systems detected unusual order flow patterns 12 minutes before the price decline, suggesting coordinated activity.
The liquidation sequence followed a remarkably consistent 47-minute timeline across all major protocols. This precision suggests sophisticated algorithmic coordination rather than opportunistic extraction.
| Protocol | Start Time | Peak Activity | Duration |
|---|---|---|---|
| Aave V3 | 14:25:42 | 14:32:18 | 18 min |
| Compound III | 14:31:18 | 14:38:45 | 22 min |
| MakerDAO | 14:28:33 | 14:35:12 | 19 min |
The 6-7 minute staggered start times between protocols indicate strategic positioning to maximize cross-protocol arbitrage opportunities while avoiding direct competition within individual protocols.
Analysis of transaction patterns reveals three distinct strategy archetypes employed during the event:
Searchers simultaneously targeted multiple protocols to capture price differentials created by liquidation-driven price impact.
Average Profit: $127K per transaction
Classic sandwich attacks on large liquidation transactions, exploiting predictable price movements.
Average Profit: $89K per transaction
Direct participation in protocol liquidations using pre-funded positions and optimized gas strategies.
Average Profit: $234K per transaction
Real-time data from our monitoring infrastructure showing profit concentration patterns
The event demonstrated extreme concentration of profits among top-tier searchers. Our analysis reveals significant performance stratification:
$1.68B captured
$437M captured
$184M captured
This concentration reflects the importance of sophisticated infrastructure, real-time data feeds, and algorithmic coordination in modern MEV extraction. Manual strategies or delayed response times resulted in dramatically reduced profitability.
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