7 Traders Who Lost Everything Due to High-Leverage Trading - Coinspeaker

Key Notes

• Price fluctuations brought massive losses to popular traders like James Wynn and Machi Big Brother.
• Hyperliquid whales are betting against small-cap altcoins.
• Top Hyperliquid trader betted over $300 million on BTC and ETH’s price fall.

Some of the most famous Hyperliquid traders might have learned an expensive lesson with high-leverage bets, but Abraxa Capital, a London-based crypto investment firm, is still betting big.

The cryptocurrency market has been seeing wild volatility over the past month, with leading assets witnessing huge selloffs Bitcoin

BTC $103 124

24h volatility: 1.7%

Market cap: $2.06 T

Vol. 24h: $61.78 B

recorded a 16.7% fall in the last 30 days while Ethereum

ETH $3 376

24h volatility: 2.6%

Market cap: $408.42 B

Vol. 24h: $35.00 B

dropped even further, losing 28% of its value.

Perpetual traders took a hard blow. The famous James Wynn went from $87 million in profits to $21.9 million in losses, according to Lookonchain.

Machi Big Brother, another trader on Hyperliquid, lost roughly $14.9 million. An unknown trader who turned $125,000 into $43 million in profit is also seeing $180,000 in losses.

“Stay away from high-leverage trading,” the market analysis firm wrote. “It might bring you big profits at first, but in the end, it’ll wipe out everything you’ve earned.”

A trader with a 14-win streak also hit a bump, losing $30.2 million. Aguila Trades, “Gambler @qwatio,” and the biggest Hyperliquid loser also lost $37.6 million, $28.8 million, and $45 million, respectively.

What Are Hyperliquid Whales Doing Now?

Big bettors are still leading the charts on Hyperliquid According to data from CoinGlass, the total value of whale positions on the exchange is at $5.8 billion ($2.7 billion longs and $3.1 billion shorts).

With the latest positive momentum, the BTC long/short ratio shifted to 56%/44%. ETH is also following closely, with 55.9% of the traders betting on its bullish momentum. Moreover, Hyperliquid whales are still uncertain about small-cap altcoins and have been majorly betting on their price fall.

On the other hand, the largest trader on the perpetual decentralized crypto exchange, Abraxa Capital, opened a $174 million short position on ETH with an entry price of $3,527. The firm’s BTC position, shorting the leading asset, is also worth $128.4 million with an entry price of $111,616.

Related article: HBAR, SOL ETFs Record Inflows, BTC, ETH ETFs BleedAbraxa Capital is currently sitting on $17.2 million in unrealized profits.

nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.