Chasing this giant whale for 3 days, the last giant needle finally took it away!

I've been writing about this guy for several days too... During these days, friends in the Ethereum group have also been watching his position...

It feels like the market is just chasing his position to liquidate it.. Many times, a needle pokes at his liquidation price, triggering a 20% liquidation.. Then it drops down again, shakes a bit, and waits for the next wave to go up and poke..

Since opening his position at the end of July, this position reached a maximum floating profit of 14 million on August 3rd.. But he still didn’t take profit and continued to add to his position..

He held onto 70,000 Ethereum short positions..

Then began this wave of being targeted by the market for liquidation..

He went through a series of 20% liquidations, and after that, he added back to his position.. Liquidate, add margin, and add again.. Starting with various margin adds as it fluctuated around 3800 and 3900..

But in the end, he still couldn’t hold on; since the day before yesterday, the 70,000 positions triggered 20% liquidations multiple times.. Finally, he chose to actively cut losses.. He closed his last 10,000 Ethereum short position.. It’s equivalent to this needle at 4100-4200 being pulled up together with other liquidation/cut loss orders..

Now he is in a flat position.. After this stop-loss, he still has 250,000 margin left.. The entire account has a historical net loss of 15.85 million... Although he successfully made several waves with ETH before, achieving a win rate of up to 75%, with historical profits exceeding 20 million...

But this method of holding onto positions without stopping losses, one wrong move can lead to zero...

If the win rate is achieved by holding on, then in the end, going to zero is also likely achieved by holding on..

During this time, I’ve seen so many giant whales being taken away in between... It’s all about the gambling nature...

Alright, finally, let me mention that previous whale who found another 4 million to make a comeback with a '400 million position'.. This wave of long positions has worked out for him, with Ethereum at 4200, his Ethereum position’s floating profit has approached 9 million.. Along with Bitcoin, the total position floating profit is 10 million..

Hmm... Still 30 million away from breaking even....