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Sun Yuchen narrowly escaped a 6.4 billion position liquidation crisis; two minutes changed his fate
According to social media reports, Sun Yuchen, the founder of TRON, nearly faced a liquidation crisis involving 606,000 ETH (worth approximately 6.4 billion RMB) that he had deposited on an Ethereum lending platform. At a critical moment, he quickly added 1.9 billion RMB worth of stablecoins as collateral, successfully avoiding a massive liquidation event that could have triggered market turbulence.
This distinguished history major from Peking University and winner of the New Concept Writing Competition immediately announced on social media after the crisis was averted that he had used 1.8 billion funds to buy the dip in Ethereum and Bitcoin. According to his trading records, as of 11 PM on May 20, this investment had realized approximately 300 million in paper profits.
Sun Yuchen's journey in cryptocurrency investment is quite legendary. Starting his involvement in Bitcoin investment during his time at the University of Pennsylvania, he now manages TRON (TRX), which has a market value of about 40 billion. Every step he takes attracts significant attention. Although TRON's price recently dropped by 25% within a week, this successful maneuver to avert a liquidation crisis once again demonstrated his keen market sense.
Dramatic moment: Two minutes changed fate
According to well-known Twitter user Philippe Castonguay, the lending platform LiquityProtocol was just two minutes away from liquidating Sun Yuchen's 606,000 ETH. At the critical moment, Sun Yuchen swiftly injected 300 million dollars worth of stablecoins, successfully resolving the crisis. The founder of a well-known Chinese mining pool, Shen Yu, commented: "If Ethereum drops another 100 dollars, it might break the 1000 dollar mark tonight."
The reporter noted that during the market's violent fluctuations on May 19, the price of Ethereum fluctuated much more than Bitcoin, while Sun Yuchen's leveraged position happened to be related to Ethereum assets. LiquityProtocol, a decentralized lending platform based on the Ethereum network, headquartered in Zug, Switzerland, offers interest-free loans priced in LUSD (a stablecoin pegged to the US dollar) with a minimum collateral ratio of 110%.
Crisis management showcases trading wisdom
According to social media reports, Sun Yuchen, the founder of TRON, nearly faced a liquidation crisis involving 606,000 ETH (worth approximately 6.4 billion RMB) that he had deposited on an Ethereum lending platform. At a critical moment, he quickly added 1.9 billion RMB worth of stablecoins as collateral, successfully avoiding a massive liquidation event that could have triggered market turbulence.
This distinguished history major from Peking University and winner of the New Concept Writing Competition immediately announced on social media after the crisis was averted that he had used 1.8 billion funds to buy the dip in Ethereum and Bitcoin. According to his trading records, as of 11 PM on May 20, this investment had realized approximately 300 million in paper profits.
Sun Yuchen's journey in cryptocurrency investment is quite legendary. Starting his involvement in Bitcoin investment during his time at the University of Pennsylvania, he now manages TRON (TRX), which has a market value of about 40 billion. Every step he takes attracts significant attention. Although TRON's price recently dropped by 25% within a week, this successful maneuver to avert a liquidation crisis once again demonstrated his keen market sense.
Dramatic moment: Two minutes changed fate
According to well-known Twitter user Philippe Castonguay, the lending platform LiquityProtocol was just two minutes away from liquidating Sun Yuchen's 606,000 ETH. At the critical moment, Sun Yuchen swiftly injected 300 million dollars worth of stablecoins, successfully resolving the crisis. The founder of a well-known Chinese mining pool, Shen Yu, commented: "If Ethereum drops another 100 dollars, it might break the 1000 dollar mark tonight."
The reporter noted that during the market's violent fluctuations on May 19, the price of Ethereum fluctuated much more than Bitcoin, while Sun Yuchen's leveraged position happened to be related to Ethereum assets. LiquityProtocol, a decentralized lending platform based on the Ethereum network, headquartered in Zug, Switzerland, offers interest-free loans priced in LUSD (a stablecoin pegged to the US dollar) with a minimum collateral ratio of 110%.
Crisis management showcases trading wisdom
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