$13 Million Long Positions Liquidated in EdgeX

New Wallet Places Large Short Order

A newly created wallet opened a short position worth approximately $10 million in EdgeX’s perpetual contract tied to the Nasdaq 100. This transaction triggered a 3.5% price drop, leading to a wave of liquidations in long positions.

Market Condition and Liquidity Issue

With U.S. stock markets closed, investors are unable to hedge their positions against the Nasdaq. This situation makes the equity index perpetual contracts more sensitive to large orders and low liquidity.

EdgeX's Volume Data

EdgeX processed approximately $167 billion in perpetual trading volume last month. This data shows how much the rapidly growing crypto derivatives platforms are leaning towards tokenized stocks.