In a brutal reminder of the risks of emotional and high-leverage trading, an Ethereum whale ๐ with wallet address 0xcddf just experienced a catastrophic loss โ turning $2.96 million into just $250,000 in only 2 days. ๐ฑ
According to on-chain analyst Yujin, the whaleโs downfall was a series of high-stakes leveraged trades that went horribly wrong.
๐๏ธ It all started on May 18, when the trader opened a massive ETH short position โ 41,851 ETH at $2,514 using 25x leverage. The liquidation price was dangerously tight at $2,525. ETH ๐ surged unexpectedly, triggering a $2.46 million liquidation. Ouch. ๐ฌ
The cruel twist? ETH dropped right after he got wiped out. ๐ฉ
Not giving up, he switched gears and went long on BTC, opening a $17.6M position at $106,580 with an eye-watering 40x leverage. But once again, the market turned against him. โ Within just 45 minutes, the trade was liquidated, leaving him with just $250,000. ๐ธ
Still chasing losses, he jumped back in with another move: an $ETH short at $2,444, again using 25x leverage. At this point, the community dubbed it the "Punching Bag Strategy" โ switching sides repeatedly, but always ending up on the wrong side of the trade. ๐ฅ
โ ๏ธ Lesson of the Day
High leverage = high risk.
Emotional trading = financial disaster
โ Stay rational.
โ Manage your risk.
โ Donโt let losses drive your decisions.
๐ข Trade smart. Not emotional
#CryptoTrading ๐ง #LeverageTrading โ๏ธ #MastercardStablecoinCards ๐ณ
