High-Leverage Wipeout: Whale Turns $2.96M into $250K in Just 48 Hours!
High-Leverage Wipeout: Whale Turns $2.96M into $250K in Just 48 Hou
48This is a compelling and cautionary tale, perfectly highlighting the brutal realities of high-leverage crypto trading. If you're planning to share or post this, here's a slightly polished version to enhance readability and engagement:
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High-Leverage Wipeout: Whale Turns $2.96M into $250K in Just 48 Hours
In one of the most dramatic trading collapses in recent memory, an Ethereum whale with wallet address starting 0xcddf has lost over 90% of their capital in just two days — a stark reminder of the dangers of emotional and over-leveraged trading.
According to on-chain analyst Yujin, it all began on May 18, when the trader opened a massive short position on ETH:
41,851 ETH at $2,514
Using 25x leverage
Liquidation price: $2,525
Just $11 above the entry point — an incredibly narrow margin. Unfortunately, ETH surged, liquidating the position and incurring a $2.46 million loss. Ironically, ETH dropped shortly after he was wiped out.
In a desperate bid to recover, the whale flipped bullish on BTC, opening a $17.6M long at $106,580 with 40x leverage.
Within 45 minutes, BTC moved against him and the trade was liquidated — leaving him with just $250,000.
Still undeterred, the trader jumped back in with another ETH short at $2,444, again using 25x leverage.
The community dubbed it the “punching bag strategy” — constantly switching positions, yet always on the wrong side.
The takeaway?
High leverage can amplify gains — but it devastates mistakes. And in volatile markets, emotionally driven decisions can destroy portfolios.
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Lesson of the Day:
Respect risk. Stay rational. Don’t let losses chase you into deeper ones.
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