So, picture this: a crypto whale, who probably thought he was the king of the ocean, just lost a whopping $306.85 million! 🐳💔 How did this happen? Well, he decided to go all-in on Ethereum with a dazzling 50x leverage. Because, you know, why not gamble your life savings on a digital currency that fluctuates more than my mood on a Monday?
According to Lookonchain (which sounds like a fancy restaurant but is actually a crypto report), our dear whale started trading on March 10, 2025. He sold 947 ETH for $1.95 million in USDC, which he then used to long ETH on Hyperliquid. I mean, who needs a financial advisor when you can just stack bets like you’re at a Vegas buffet? 🍽️
Fast forward two days, and this whale was feeling lucky, pushing his position to 73,076 ETH worth $138.75 million. Talk about a confidence boost! But then, in a plot twist worthy of a soap opera, he decided to move all his BTC trades to ETH, ballooning his position to 140,458 ETH ($269.8 million). His entry price was $1,900.28, and his liquidation level was set to $1,805. Spoiler alert: things did not end well. 😬
As ETH’s price plummeted below his liquidation price, it was like watching a slow-motion train wreck. In mere minutes, his entire position was wiped out. “This whale just got liquidated for 160,234 ETH ($306.85 million)!” Lookonchain confirmed. Ouch! That’s gotta hurt! 😱
This is officially one of the biggest single liquidations in crypto history. Trading with 50x leverage is like playing with fire while juggling chainsaws. One tiny slip, and poof! Your fortune is gone. Now the entire crypto community is buzzing about this high-stakes flop.
One user on X chimed in, “High leverage, high consequences. Whale’s $300M+ ETH position just got wiped at $1,877. This is why trading with leverage is basically gambling – one wrong move and it’s game over. Let this be a lesson in risk management.” Thanks, Captain Obvious! 🙄
Some traders are even speculating if our whale had insider info. Was it bad luck? A poor strategy? Or did he just forget to check the market? Who knows! But one thing is for sure: in the world of crypto, fortunes can vanish faster than my willpower at a dessert table. 🍰
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2025-03-12 19:49