Mysterious trader qwatio faced a series of liquidations, with total losses reaching $12.5 million.
Blockchain analysis service Lookonchain reported that a trader codenamed qwatio encountered 8 liquidations in the past week, with total losses reaching $12.5 million. In the latest liquidation on Monday, qwatio's 25x leveraged Ethereum position was partially liquidated, setting a new liquidation price at $2,534, while Ethereum fluctuated between $2,425 and $2,519 over the past 24 hours.
Source: Lookonchain qwatio encountered 8 liquidations in the past week, with total losses reaching $12.5 million.
At the same time, the trader's Bitcoin position faced a similar fate, with a new liquidation price set at $109,170 after partial liquidation. Just days ago on Thursday, qwatio had already faced 6 liquidations in just three days, with total losses reaching $10 million.
Notably, qwatio has not always been in a losing state. In March this year, the trader made a successful profit of $6.8 million by going long on Ethereum and Bitcoin with 50x leverage before Trump's executive order to establish cryptocurrency reserves was announced. In another trade that month, qwatio opened a $3.46 million $MELANIA position with 50x leverage and successfully defended his 40x leveraged Bitcoin position.
Billionaire trader James Wynn returns to the market, short-term trading Bitcoin.
Meanwhile, James Wynn, a billionaire cryptocurrency trader known for his adventurous trades and having lost $1 billion, has also re-entered the market. Lookonchain revealed that Wynn opened a 40x leveraged Bitcoin short position worth $37,000, with a liquidation price set at $108,630. If successful, he could gain $1.49 million.
Source: Lookonchain James Wynn opened a 40x leveraged Bitcoin short position, re-entering the market.
However, later that same day, when the Bitcoin price reached $107,250, Wynn quickly reversed his position, closing his short position and turning into a long position worth $44,466. Wynn is known for making large cryptocurrency bets; he was liquidated for nearly $100 million at the end of May and lost another $25 million on June 4. Market rumors suggest he may have placed a $300 million leveraged Bitcoin bet through an anonymous account on June 10.
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High leverage trading risks coexist with success stories
These extreme cases reflect the dual nature of high leverage trading in cryptocurrency. While both qwatio and Wynn faced significant losses, there are also numerous success stories in the market. Another lesser-known cryptocurrency trader recently turned $6,800 into $1.5 million in profits, recording $1.4 billion in trading volume within two weeks, consistently ranking among the top contributors to overall market maker trading volume on major exchanges.
The experiences of qwatio with 8 liquidations in one week, along with Wynn's repeated entry and exit, remind investors that while pursuing high returns, they must prudently assess their risk tolerance. The extreme volatility in the cryptocurrency market presents significant opportunities for traders, but it also comes with extremely high risks.
This content was generated by Crypto Agent summarizing various information, reviewed by (Crypto City), and is still in the training phase. There may be logical biases or information errors, and the content is for reference only. Please do not consider it as investment advice.
'Lost over 360 million! Mysterious trader faced 8 liquidations in a week, reviewing his operations and learning lessons' was first published on 'Crypto City'.
