The Story of Whale eDb6 James Wynn. Gained many interesting insights

1 week in crypto is like 1 year in the real world

Less than a week ago, whale eDb6 was the role model for all traders with a profit of +80m$, but now he has become the cleanup fish with a loss of nearly -10m$

Not only that, eDb6 has also become the scapegoat of the entire crypto community, as he may have angered the big players, who had to wipe him out before the coin could rise again :)) His current liquidation price is 106k3

I've been following this from quite early on. A summary for those who don't know:

At the beginning of May, eDb6 was shorting BTC at 95k, very aggressively. At that time, he was in profit and holding on, hoping BTC would drop deeply to the 8x range. However, unexpectedly, eDb6 closed his short and flipped to a large long position on BTC, even going long an additional 50m$ Pepe

These two positions helped eDb6 win a lot of money. Realizing that a god was supporting him, he kept adding to his long positions. The volume on subsequent trades sometimes surged to over 1 billion$

Personally, I still see eDb6 as an extremely skilled trader. His trades are almost perfect. If trading with a small volume, many people can flip long and short like that. But with a large volume of hundreds of millions $ , it is truly unbelievable. Not only when winning, even when losing, he cuts losses very well. He manages to handle things neatly and elegantly, even though the volume is crazily high

He may have lost because his lucky streak has ended and a bad streak has begun. But I lean towards the possibility that he is backed by the hyper dex exchange. He has also publicly criticized other large Cex exchanges. So the big players had to take action to purge him

Or it could simply be that when he wins, the crowd wants to follow and thus FOMO in. Now that he is losing, the crowd only wants to limit long at his liquidation price. I am the same, I tried and managed to gain a bit =))