A trader, known only by the handle \u201cqwatio\u201d on the social media platform X, has been under the spotlight for the on-chain analytics firm Lookonchain.<\/p>\n
Recent developments regarding the unfortunate losses include a partial liquidation of 8,000 ETH ($20.11M) and 280 BTC ($30.4M).<\/p>\n
The journey that this trader went through on Hyperliquid has sparked debate about whether or not he might be an insider, as the analysis firm noted<\/a> earlier this March. His long BTC & ETH positions, with 50x leverage, netted a profit of around $6.8M in a single day, right before Trump signed one of his executive orders.<\/p>\n Their investigation reveals continued high-risk, 50x leveraged positions in ETH, which, after accounting for profits, resulted<\/a> in over 160,000 ETH being liquidated \u2014 a burden that the liquidity provider, HLP, had to absorb.<\/p>\n As a result, Hyperliquid has since capped<\/a> the maximum leverage possible for ETH to x25 to avoid this from happening again.<\/p>\n Seemingly unscathed, the risky bets continued, with the trader going short<\/a> on Bitcoin. A dedicated \u201cteam\u201d of people even tried to liquidate his positions, but the response to the margin call was quick. The user added $5M to support the trade, the prices fell further, resulting in a profit of $4.4M.<\/p>\n Lookonchain summarized that this trader made over $10M in each of two separate wallets and another with over $9M in profits. After covering any prior losses, the winnings total $4.79M.<\/p>\n But, as with everything, all good things come to an end. The traders\u2019 new wallet did not fare well this time around, with six liquidations<\/a> in the last few days, resulting in a total loss of approximately $10 million.<\/p>\n If the above story reminds you of someone, it\u2019s not by coincidence. Known for even higher-stakes, higher-leverage plays, James Wynn is another trader who\u2019s been under Lookonchain\u2019s radar and whose journey we\u2019ve also recapped<\/a>.<\/p>\n Perhaps the most notable endeavor was his $1.25 billion long BTC position with 40x leverage, which at one point resulted in over $87 million in unrealized profits, before the news that President Trump would be imposing tariffs on the European Union.<\/p>\n His trading spree also ended in losses, but they were substantially exaggerated in that his unrealized PNL had reached almost nine figures before roundtripping it all.<\/p>\n The analytics firm notes, \u201cIt took him 70 days to go from 0 to $87M+ in profit, and only 5 days to lose almost all the $87M+ in profit.\u201d<\/p>\n The post This Trader Was Liquidated 8 Times in a Week, Losing Millions<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" A trader, known only by the handle \u201cqwatio\u201d on the social media platform X, has been under the spotlight for the on-chain analytics firm Lookonchain. Recent developments regarding the unfortunate losses include a partial liquidation of 8,000 ETH ($20.11M) and 280 BTC ($30.4M). High-Risk, High-Reward, High-Loss The journey that this trader went through on Hyperliquid […]<\/p>\n","protected":false},"author":0,"featured_media":77155,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-77154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/77154"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=77154"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/77154\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/77155"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=77154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=77154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=77154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}A Familiar Feeling<\/h2>\n