According to on-chain analyst Ai Yi, address (0xd47...A91) has been shorting ZEC on Hyperliquid with 10x leverage since the end of October, currently showing a floating loss of $13.77 million and having paid $536,000 in funding fees. Its opening price was $360, during which time the price of ZEC rose to a high of $750.
💎 Summary and Risk Warning by Da Sen
This case is an extreme example of the risks of leveraged cryptocurrency trading. It reveals several key lessons:
· Don't blindly trade against the trend: This whale kept "holding" and adding to its position during ZEC's upward trend, attempting to average down its cost, causing losses to snowball.
· Leverage is a double-edged sword: 10x leverage greatly amplifies the speed of losses. Once the market moves against expectations, huge losses can occur instantly.
Even whales can't fight the market: Even with abundant capital, they can "hold out" by continuously adding margin, but if the core direction is judged incorrectly, all subsequent operations only delay failure, not prevent it.