A recent activity by a prominent trader on the Hyperliquid platform caught attention due to significant losses incurred from betting against XRP.
Overview of the Situation
The trader, known as @qwatio on social media platforms, recently faced partial liquidation on Hyperliquid by betting against major cryptocurrencies, including Bitcoin and XRP.
Trader’s Positions and Losses
The high-risk trader opened shorts on BTC (40x), ETH (25x), SOL (20x), and XRP (20x). The XRP short turned out particularly disastrous, leading to losses of over $650,000 as the token surged above the entry price of $2.894.
Trader’s History and Previous Losses
This is not the first instance the trader has faced substantial losses. In June, he was liquidated six times within three days, with total losses amounting to $10 million. In July, his overall losses exceeded $25 million after his $334 million shorts were wiped out.
This situation highlights the high risks associated with trading on cryptocurrency platforms and demonstrates the market's volatility, which can lead to significant losses even for experienced traders.
