Crypto Trader 'Qwatio' Loses $12.5M in Week of Liquidations

A crypto trader known as 'qwatio' has suffered staggering losses, totaling $12.5 million, after being liquidated eight times within a single week. This series of unfortunate events highlights the extreme volatility and high risks associated with leveraged trading in the cryptocurrency market, particularly with assets like Ether and Bitcoin.

A Week of Liquidations

Qwatio's recent trading misfortunes began with a series of liquidations that saw significant portions of their leveraged positions wiped out. The losses escalated rapidly, culminating in a total of $12.5 million.

• Initial Losses: By Thursday of the previous week, qwatio had already been liquidated six times in just three days, incurring losses of $10 million.

• Latest Liquidations: On Monday, further liquidations occurred, including a 25x leveraged Ether (ETH) position and a Bitcoin (BTC) position. The new liquidation price for ETH was set at $2,534, while for BTC it was $109,170.

From Profit to Peril

Ironically, qwatio had previously demonstrated considerable success in the volatile crypto market. In March, the trader netted a substantial profit by strategically leveraging positions.

• March Successes:

  • A $6.8 million profit was secured by going long on Ether and Bitcoin with 50x leverage, coinciding with a significant market event.

  • In another trade in March, qwatio also opened a $3.46 million position with 50x leverage on the MELANIA memecoin.

  • Successfully defended a 40x leveraged Bitcoin position from whalers who tried to liquidate the position.

     

Sources

• Trader Liquidated Eight Times In A Week, Cointelegraph.

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