The recent incident involving the trader known as qwatio has drawn attention within the cryptocurrency community. His account suffered eight liquidations within a week, resulting in losses of $12.5 million.
Liquidation of Trader qwatio
On June 30, qwatio partially liquidated his Ether (ETH) position with a 25x leverage after the price dropped below $2,479. This incident established a new liquidation threshold at $2,534 while Ether traded between $2,425 and $2,519 over the last 24 hours. His Bitcoin position also faced liquidation, with the liquidation price now at $109,170.
Previous Successes and Failures
Just days earlier, on June 27, Lookonchain reported that qwatio was liquidated six times within three days, resulting in a loss of $10 million. Despite this string of bad trades, qwatio had previously achieved significant successes. In March, he gained $6.8 million by going long on Bitcoin and Ether with 50x leverage before U.S. President Donald Trump announced the creation of a crypto reserve. He also profited $3.46 million on First Lady Melania Trump’s memecoin (MELANIA) with 50x leverage.
Return of Trader James Wynn and Other News
Notable trader James Wynn, who lost $1 billion on risky trades last year, is back in the markets. On June 30, Lookonchain reported that Wynn opened a small short position on Bitcoin worth $37,000 with 40x leverage. Later, he flipped his position, closing the short and going long with $44,466 as Bitcoin ranged between $107,228 and $108,771. Meanwhile, another trader turned $6,800 into $1.5 million, accounting for over 3% of maker-side liquidity on a major crypto exchange.
The recent events surrounding trader qwatio highlight the high risks associated with using significant leverage in the cryptocurrency market. Despite numerous losses, traders continue to seek opportunities for profit.
