5 reactions
Whale just opened a 53x long on Btc and 34x long on Eth on chain
This degen trader opened 2 insanely leveraged longs on GMX, a decentralized perps protocol. The wallets liquidation levels are as shown in the picture, 1830 for Eth and 27668 for Btc. A 2% move down will liquidate the Btc position which is a $13M position! A $40 move down on eth would liquidate this wallet too.
https://preview.redd.it/1uzlhc52yosa1.png?width=800&format=png&auto=webp&v=enabled&s=52efb7adabaaac40421a684022c8a03c966beef2
Leverage trading is not for everyone but you have to be a different breed to be this bold. Either that or you know something? It's also possible the whale is longing on chain and shorting on a centralized exchange as a delta neutral strategy too. Which one of these scenarios do you think is more likely? I think he's a degen and is lighting his money on fire.
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You can follow the mentioned whale's wallet here:
https://debank.com/profile/0xe8c19db00287e3536075114b2576c70773e039bd
This degen trader opened 2 insanely leveraged longs on GMX, a decentralized perps protocol. The wallets liquidation levels are as shown in the picture, 1830 for Eth and 27668 for Btc. A 2% move down will liquidate the Btc position which is a $13M position! A $40 move down on eth would liquidate this wallet too.
https://preview.redd.it/1uzlhc52yosa1.png?width=800&format=png&auto=webp&v=enabled&s=52efb7adabaaac40421a684022c8a03c966beef2
Leverage trading is not for everyone but you have to be a different breed to be this bold. Either that or you know something? It's also possible the whale is longing on chain and shorting on a centralized exchange as a delta neutral strategy too. Which one of these scenarios do you think is more likely? I think he's a degen and is lighting his money on fire.
​
You can follow the mentioned whale's wallet here:
https://debank.com/profile/0xe8c19db00287e3536075114b2576c70773e039bd
| 23,000 mlx | |
| 40 | |
| 5 |