$ETH
Cryptocurrency market's magical operations! A whale sold 5.49 million ETH and then went long with high leverage, losing 3.3 million in just 4 days🤯
The cryptocurrency market never lacks big news! Today, the operations monitored by Lookonchain left the whole network stunned👇
Starting from December 10th, whale address 0x76AB first cleared 1,654 ETH in the spot market, cashing out 5.49 million USD at the time's price! It was thought to be a safe exit, but then turned around and went all in on high-leverage ETH longs, executing 3 trades in quick succession.
Who would have thought the plot would twist so quickly? Out of the 3 trades, 2 ended in losses, and in just 4 days, the total loss exceeded 3.3 million USD! That's more than 800,000 lost each day, this is not investment, it's simply throwing money away…
High leverage is truly a double-edged sword! Gains can be magnified, but losses can double, we've seen retail investors using 10x leverage, and with a slight fluctuation, they face liquidation. This whale's confusing operation of "selling spot and adding leverage"—is it overconfidence or is there another scheme?
One can only say that the cryptocurrency market is highly volatile, and the risks of leveraged trading are beyond imagination! No matter how thick the funds are, they can't withstand the market's violent strikes $BTC
