On August 20, a noteworthy piece of news emerged from the cryptocurrency market: a whale referred to as "Setting 10 Big Goals" could face a potential unrealized loss of up to 7.5 million dollars if the Ethereum long positions it holds remain open.
According to BlockBeats, this whale opened over 31,000 Ethereum long positions with 5x leverage at a price of 4,399.13 dollars, with a liquidation price of 2,655.41 dollars and a margin of 27.26 million dollars. On August 16, based on a position screenshot shared by the whale, its unrealized loss had already exceeded 640,000 dollars. In just a few days, the scale of the unrealized loss has dramatically increased, reflecting the high volatility and risk inherent in the cryptocurrency market.
The cryptocurrency market is well-known for its severe price fluctuations, and leveraged trading amplifies this risk. For investors, even those with substantial financial power like the whale, there can be significant loss pressures in unfavorable market conditions. This incident serves as a warning for investors participating in cryptocurrency leveraged trading to remain vigilant about market risks and to implement proper risk control measures.
