Whale Faces Liquidation in High-Leverage LINK Trade

According to Odaily, a prominent trader, known for leveraging high stakes, recently faced liquidation in their eighth leveraged trade involving Chainlink (LINK). The trader initially engaged in a long position on LINK with 20x leverage, gradually increasing their holdings to 2.64 million LINK, valued at approximately $37.41 million. Despite starting with an initial margin of $1.076 million, the trader was able to expand their position by using accumulated profits as additional margin. However, fluctuations in LINK's price led to the liquidation of the position, resulting in a loss of the entire $1.076 million margin. This marks the trader's first loss since March 2. Consequently, the trader's cumulative leverage profits have decreased from a peak of $12.386 million to $11.31 million.