Unlucky trader ‘Qwatio’ liquidated 8 times in a week, loses $12.5M

An unlucky trader was liquidated 8 times successful the past week, according to blockchain analytics work Lookonchain. 

The trader, nether the grip Qwatio, saw a full nonaccomplishment of $12.5 million. In the latest liquidation connected Monday, Lookonchain said Qwatio was partially liquidated for an Ether (ETH) presumption that was leveraged by 25X.

A caller liquidation terms was acceptable for $2,534, and Ether has been drifting betwixt $2,425 and $2,519 successful the past 24 hours. 

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The Bitcoin presumption suffered a akin destiny and was partially liquidated, with a caller liquidation terms acceptable astatine $109,170. 

Only days before, connected Thursday, Lookonchain said Qwatio had been liquidated 6 times successful conscionable 3 days, losing $10 cardinal successful full astatine that point.

Down aft antecedently making a profit 

Qwatio managed to nett a nett successful March aft going agelong connected Ether and Bitcoin with 50x leverage close earlier US President Donald Trump announced the enforcement bid to make a crypto reserve, netting $6.8 cardinal successful profit. 

In different commercialized during March, Qwatio besides opened a $3.46 cardinal presumption with 50x leverage connected US First Lady Melania Trump’s memecoin $MELANIA and successfully defended a Bitcoin presumption leveraged 40x by adding much borderline aft whale hunters tried to liquidate it. 

James Wynn opens a 40X leveraged Bitcoin short

Meanwhile, multimillionaire crypto trader James Wynn — who famously mislaid $1 cardinal connected risky trades — has opened a tiny abbreviated Bitcoin position.

Lookonchain said successful an X station connected Sunday that Wynn was backmost with a 40s leveraged Bitcoin (BTC) abbreviated presumption of conscionable $37,000 and a liquidation terms of $108,630, which could person perchance netted him $1.49 cardinal if it succeeds. 

Wynn is known for making important bets connected crypto; helium was liquidated for astir $100 cardinal successful precocious May, again for $25 cardinal connected June 4. 

He whitethorn person besides been liable for a $300 cardinal leveraged Bitcoin stake connected June 10 nether an anonymous relationship to debar whale hunters, whom helium claimed were trying to liquidate his positions. 

Source: Lookonchain

Later that aforesaid day, Wynn flipped his presumption erstwhile Bitcoin was astatine $107,250, closing the abbreviated and alternatively going agelong for $44,466. Bitcoin has been drifting betwixt $107,228 and $108,771 successful the past 24 hours, according to Congecko. 

Related: Hyperliquid trader James Wynn goes ‘all-in’ connected $1.25B Bitcoin Long

Another trader cashes in, too 

Another little-known crypto trader besides recently had immoderate occurrence trading crypto aft turning $6,800 into $1.5 cardinal successful nett portion accounting for implicit 3% of maker-side liquidity connected a large crypto exchange. 

Over 2 weeks, the relationship recorded a trading measurement of $1.4 cardinal and consistently ranked among the apical contributors to the exchange’s full shaper volume.

Magazine: Bitcoin $110K ‘bull trap’ concerns, James Wynn loses $25M BTC: Hodler’s Digest, June 1 – 7