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According to a report by Jinse Finance, on-chain analyst Yu Jin monitored that after opening a Short position worth 103 million USD of ETH at a price of 2,514 USD with 25x leverage yesterday, ETH rose all the way, and his Position was stopped out. Ultimately, he closed all positions half an hour ago, incurring a loss of 2.46 million USD.
After closing his ETH short position, he turned around and used the remaining funds to chase a BTC long: opening a long position of 166 BTC at a price of 106,580 USD with 40x leverage, the position value is 17.6 million USD. The liquidation price is 105,510 USD. #NXPC Launchpool