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【Brother Ma's ETH Trading Record for the Past Month】

My brother Ma has been using high leverage for long positions, continuing to increase his position even with a loss of 23 million
Core Logic: Throughout, he steadfastly maintained a 25x high leverage long position in ETH, experiencing multiple rounds of liquidation with floating losses exceeding 90%, yet repeatedly adding to his position. As of December 18, the cumulative loss exceeded 23 million USD, and his current position is still at risk of liquidation.

Late November: Firmly bullish, short-term profit realization from increased positions

- November 24-25: Deposited 1 million USDC to Hyperliquid, opened a new long position in ETH worth 13.35 million USD (opening price 2883 USD), liquidation price 2716 USD, with short-term floating profits of 280,000 USD.
- Earlier in early November, due to a liquidation loss of 15 million USD from a 25x long position, the account balance once dropped to only 16,771 USD, later re-entering the market with a small amount of funds.

Early December: Profit giveback, two rounds of liquidation triggered profit evaporation

- Early to mid-December: Longed with 500,000 USD from a rolling position at 2840 USD, when ETH rose to 3200 USD, profits reached 3.34 million USD, but the liquidation price was simultaneously raised to 3000 USD.
- December 6: ETH retraced and fell below 3000 USD, triggering two liquidations; the position value plummeted from 3.34 million USD to 730,000 USD, with profits essentially evaporated, and the remaining position was only 42 USD away from the liquidation price.

Mid-December: Repeatedly increasing and decreasing positions, liquidation risk remains high

- December 13: Added 200,000 USD in margin, increased the 25x long position to 9.5 million USD, opening price 3212.48 USD, liquidation price 3022.71 USD (close to market price).
- December 14: Reduced position by 786 ETH, remaining 3144 ETH (9.69 million USD), liquidation price 3042.74 USD.
- December 15: Two liquidations in one day—ETH dipped to 3033 USD in the morning, losing 110,000 USD; in the afternoon, continued to increase the position by 300 ETH to 3750 ETH (1.182 million USD), then reduced by 628.8 ETH, ultimately holding 2515.2 ETH (769,000 USD), with floating losses of 330,000 USD, liquidation price 3025.32 USD, and account funds remaining only 270,000 USD.
- December 16: Current price of ETH is 2910 USD, holding 400 ETH long position with floating losses exceeding 210%, liquidation price 2900.1 USD, only less than 10 USD away from the market price, on the brink of liquidation.

Late December: Counter-trend increase, cumulative losses exceed 23 million

- December 17: Further deposited 1.1997 million USDC to supplement margin, increased the 25x ETH long position to 4050 ETH (approximately 1.19 million USD), simultaneously opened new long positions in BTC (40x) and HYPE (10x), cumulative losses officially exceeded 23 million USD, latest liquidation price 2694 USD.
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