Rolling positions! From $125,000 to $25 million.
According to on-chain data analyzed by Yu Jin, this trader transferred funds from ChangeNOW and Kucoin to Hyperliquid in April, buying in when Ethereum (ETH) hit a yearly low of $1490, and then continuously extended the expiry date by 'adding positions with floating profits', accumulating a position value of 66,000 ETH, with a peak position value of about $300 million.
Practitioner of rolling position strategies.
High leverage is a shortcut to amplify returns, but it is also a fuse that accelerates liquidation.
Previously aggressive leverage has led to many sensational trading legends in the community, such as PrimeXBT leveraging Bitcoin to 500 times and Ethereum to 400 times.
@AguilaTrades turned $4.6 million into $15.9 million in two days by reducing positions at high points for a safety cushion.
James Wynn once leveraged meme coins to turn $3 million into $100 million, but ended up losing everything after heavily investing in Bitcoin.
High leverage and rolling positions are not the biggest problems; the core issue lies in capital management and stop-loss mechanisms. Without a clear risk control framework, it will ultimately replay the scenario of a rapid return to zero.