In a stunning turn of events, a crypto whale has lost $306.85 million after his leveraged bets on Ethereum were liquidated. The trader, who had been using 50x leverage, placed substantial bets on ETH, hoping the price would rise, but the market moved against him.
The Trader’s Risky Strategy
According to Lookonchain’s report on X, the whale began accumulating Ethereum on March 10, 2025. Initially, the trader sold 947 ETH for $1.95 million in USDC, using the proceeds to long ETH on the Hyperliquid platform. Over the next two days, the trader continued to build his position, eventually holding 73,076 ETH worth approximately $138.75 million.
Early this morning, the trader shifted all of his Bitcoin trades into Ethereum, further increasing his exposure to 140,458 ETH, valued at $269.8 million. His entry price was set at $1,900.28, with a liquidation threshold of $1,805. At one point, the whale was up by $3.65 million, but as the price of ETH began to drop, the position quickly deteriorated.
The Liquidation
The price of Ethereum fell below the trader’s liquidation price, and within minutes, his entire position was wiped out. “This whale just got liquidated for 160,234 ETH ($306.85M),” confirmed Lookonchain.
This marks one of the largest single liquidations in cryptocurrency history. Leveraging at 50x is a highly risky strategy, where even small price movements can lead to massive losses. This massive liquidation has sent shockwaves through the crypto community.
A Lesson in Risk Management
Many within the crypto space are using this incident as a cautionary tale about the dangers of high-leverage trading. One X user remarked, “High leverage, high consequences. Whale’s $300M+ ETH position just got wiped at $1,877. This is why trading with leverage is basically gambling – one wrong move and it’s game over. Let this be a lesson in risk management.”
Speculation has also emerged, with some traders wondering if the whale had inside information. While the cause of the massive loss remains unclear, the event serves as a stark reminder of how quickly fortunes can change in the volatile world of cryptocurrency.
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