A trader’s execution of a TWAP (Time-Weighted Average Price) order on the Binance spot market triggered an approximately 100% surge in the price of the GMX token within an extremely short timeframe.
This sharp and sudden price movement highlights the substantial impact that large, automated trade executions can have on market volatility, especially for assets with potentially thinner liquidity at certain price points.
In response to the incident, the recommendation has been made to execute future TWAP orders at slower and more measured intervals to minimize such disruptive market impacts and foster greater price stability during large trades.