A whale lost $306M after making a big bet on ETH with 50x leverage. Moral of the story: crypto’s a gamble.
A crypto whale just took a massive L, losing a whopping $306.85 million after his all-in ETH bet was liquidated. Here’s the twist: he was on 50x leverage, meaning his bets were super high-risk.
Starting on March 10, this year, the whale sold 947 ETH for $1.95M in USDC and used it to long ETH on Hyperliquid. As the days went on, he stacked up more and more ETH, pushing his position to 140,458 ETH (worth $269.8M). His entry price was $1,900.28, with a liquidation level of $1,805.
Things went downhill fast. ETH’s price dropped, and the whale’s position got wiped out when the price fell below the liquidation level. In minutes, 160,234 ETH worth $306.85 million was gone.
This huge liquidation is one of the biggest in crypto history. Trading with high leverage is like gambling – even small price changes can lead to massive losses. Many traders on X are using this as a lesson in risk management. Crypto can make you or break you in an instant.
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