A crypto whale incurred significant losses after using 50x leverage in the Ethereum market, leading to complete liquidation of his position.
Beginning of the Trading Strategy
According to Lookonchain's report, the whale began trading Ethereum on March 10, 2025. He sold 947 ETH for $1.95 million in USDC and used this to long ETH on Hyperliquid.
Sudden Increase in Position
Over the following two days, the whale kept adding more ETH, pushing his position to 73,076 ETH worth $138.75 million. He then moved all his BTC trades to ETH, raising his position to 140,458 ETH valued at $269.8 million.
Collapse and Consequences
ETH's price dropped below the whale's liquidation price. Within minutes, his entire position was wiped out. This event became one of the biggest single liquidations in crypto history.
This situation highlights the risks of trading with high leverage, especially in a volatile market like cryptocurrency.
