2 papers
physics.soc-ph2026
Measuring the engine of a liquidation cascade: subcritical branching inside a first-order transition
Ramon Marc Garcia Seuma
We study seven major crypto-perpetual liquidation cascades (2022-2025), and in the largest of them we can watch the mechanism directly. From the on-chain fill log of a fully transp…
q-fin.ST2026
Where does the criticality live? Early-warning signals are event-heterogeneous across seven crypto-perpetual liquidation cascades
Ramon Marc Garcia Seuma
Do crypto perpetual-futures crashes carry a reproducible early-warning fingerprint of a critical transition, and in which state variable? We study seven major BTC liquidation casca…