Whale Wipeout: $2.96M Crashes to $250K in 48 Hours – A Brutal Lesson in Leverage
In a jaw-dropping example of what emotional, high-leverage trading can do, an Ethereum whale behind wallet address 0xcddf just lost over 90% of his capital in two days. As reported by on-chain analyst Yujin, the trader’s portfolio collapsed from $2.96 million to just $250,000—all thanks to a series of risky bets gone horribly wrong.
It all started on May 18, when the whale shorted 41,851 ETH at $2,514 using 25x leverage. His liquidation level? A razor-thin $2,525. ETH moved up instead, triggering a loss of $2.46 million in a single trade. Ironically, ETH dropped right after he got liquidated.
Trying to make a comeback, he went long on BTC, placing a $17.6M bet at $106,580—this time with 40x leverage. Within 45 minutes, the market moved against him again. The position was wiped out, leaving him with just $250K.
In one last desperate swing, he shorted ETH again at $2,444, sticking to the same 25x leverage. The market dubbed his approach the “punching bag strategy”—switching directions constantly but always getting hit.
The Takeaway?
Leverage doesn’t just amplify profits—it magnifies every mistake. In crypto’s wild swings, emotional trading is a fast track to disaster.
Daily Lesson: Trade with logic, not emotion. Manage risk like your capital depends on it—because it does. Don’t let losses push
you deeper.
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