A crypto whale lost $2.96 million in 48 hours using high leverage.
A crypto whale has just lost almost all of his money — from $2.96 million down to $250,000 in just two days — all due to emotional high-leverage trading.
It started on May 18, when he made a large bet on Ethereum (ETH), shorting 41,851 ETH using 25x leverage. But instead of falling, the price of Ethereum rose, leading to a loss of $2.46 million. Ironically, after he was liquidated, the price of Ethereum dropped.
To recover his losses, he quickly went all-in on Bitcoin (BTC), betting $17.6 million long using 40x leverage. Bitcoin fell, and within 45 minutes, he almost lost everything — now only left with $250,000.
He still didn’t give up and tried another ETH short with 25x leverage. The market calls this the “punching bag” strategy: constantly switching directions, always losing.
The moral of the story:
Leverage can multiply gains — but it can also destroy you quickly.
Stay calm, manage risk, and never chase losses.
The market never lacks opportunities; the question is whether you can seize them, follow the right people, and survive in the market long-term to earn more!
