$13 Million in Long Positions Liquidated on EdgeX

New Wallet Places Large Short Order

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

Market Condition and Liquidity Issues

While the U.S. stock markets are closed, investors are unable to hedge their positions against Nasdaq. This situation makes 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 illustrates how much rapidly growing crypto derivatives platforms are leaning towards tokenized stocks.