High Leverage Risks Lead to Significant Losses in Cryptocurrency Trading

According to Odaily, recent data from Hyperbot reveals that a trader known as 'Maji Dage' has faced substantial losses in cryptocurrency trading. An hour ago, the trader closed all HYPE long positions and experienced multiple liquidations on a 25x leveraged long position in ETH, resulting in an unrealized loss exceeding $330,000. The account's margin usage rate is at a high 124.82%, with a total leverage ratio of 31.2x, indicating a significant risk of further liquidation. The total value of the positions exceeds $7.12 million, but the account's net value has plummeted to approximately $228,000, with no available margin remaining. The trader's losses for the day have approached $2 million. Currently, the value of the ETH long position is around $7.12 million, with an entry price of $2,982 and a liquidation price of $2,813. The current price of ETH stands at $2,847, while the account's net value remains at only $228,000.