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Weekend Sell-Off Triggers $13M in Liquidations on EdgeX’s Nasdaq-Linked Perp

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On-chain data reveals a weekend sell-off in EdgeX’s Nasdaq 100–linked perpetual futures triggered $13 million in liquidations. A newly created wallet executed a six-hour TWAP to short 398 XYZ100 contracts, pushing the price down over 3.5%. On-chain analysis shows one trader lost $7.4 million, another $2.7 million. Traders on X questioned if the market is vulnerable to manipulation during off-hours, as XYZ100 fell nearly 4% with no macro or equity news.
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