Whale just opened a 53x long ($13M) on Btc and 34x long on Eth ($1.2M) on chain

E-currency exchange

This degen trader opened 2 insanely leveraged longs on GMX, a decentralized perps protocol. The wallets liquidation levels are as shown in the picture, 1830 for Eth and 27668 for Btc. A 2% move down will liquidate the Btc position which is a $13M position! A $40 move down on eth would liquidate this wallet too.

https://preview.redd.it/1uzlhc52yosa1.png?width=800&format=png&auto=webp&v=enabled&s=52efb7adabaaac40421a684022c8a03c966beef2

Leverage trading is not for everyone but you have to be a different breed to be this bold. Either that or you know something? It's also possible the whale is longing on chain and shorting on a centralized exchange as a delta neutral strategy too. Which one of these scenarios do you think is more likely? I think he's a degen and is lighting his money on fire.

You can follow the mentioned whale's wallet here:

https://debank.com/profile/0xe8c19db00287e3536075114b2576c70773e039bd

50 thoughts on “Whale just opened a 53x long ($13M) on Btc and 34x long on Eth ($1.2M) on chain”

  1. Everything is in comparison.. But maybe he will be maniplulating the market soon 👀

  2. Someone is trying to lose funds faster than they can pull down their pants. Hopefully it doesn’t have to come to that.

    Don’t play with leverage unless you’re fine with losing money.

  3. Let’s not feel sorry for the guy if he will get liquidated, he can probably afford it.

    That said, it’s an extremely degen move.

  4. People say degen as if it were a good thing. If anyone is reading this – do not be tempted by leverage trading. 90-90-90 – 90% of leverage traders lose 90% of their money in the first 90 days of trading leverage. Don’t fool yourself you will be the better 10%

  5. Mb for him it’s like 100$ longs and we are sweating here, its unimaginable for normies how much money some ppl have or earn an hour.

  6. Oh wow leverage trades. I don’t have the sack to mess around with that crazy stuff

  7. I don’t even know how to set up a long/short, and please don’t advice me how to do it.

  8. Imagine if BTC flash crashes to $27,660 and then goes back to $28,000 in a matter of seconds

  9. Probably a rich person with nothing to lose, if he wins he can say to his friends he is a pro trader, if he loses he will keep life as if nothing happen

  10. the funny thing is that I think to face risk when I finally decide to put 50 bucks in btc😅

  11. These kinds of moves can definitely make waves and impact the market as a whole. It’s important to keep an eye on their moves.

    Thanks for sharing OP

  12. This whale is going to fuck up one day if he didn’t fuck up today.

    This is pure Gamble.

  13. Funny how everyone says leverage I s bad and that person will regret it when they’ll get liquidate, but at the same time they probably made that money using leverage.

    Big money is made taking risks, not by holding and DCA-ing.

  14. There’s a lot of market moving events happening this week: earning season kickoff, cpi, ppi, imf and world bank meetings and whole bunch more. Clearly this whale thinks these events will lead to a pump, and is betting big on it.

  15. It must be someone who got acces to another’s funds and is being like “all or nothing”

  16. I just don’t understand this or how it works. I mean don’t you have to pay back that 100x loan value if you lose? Every time I hear this kind of thing I’m at a loss as to how this can even be possible.

  17. I don’t have the time, energy, or intelligence to long or short anything. And this is probably a good thing.

  18. Sounds like somebody big knows somebody bigger is about to launch some money cannons.

  19. Can someone explain this to me like I’m 5? I understand leverage, meaning for BTC, i believe the whale put in like $60k to control like 300k of bitcoin. or roughly 11 bitcoins. And I understand they would liquidate his position if the price ever went below 27,668. And is it a perpetual so there’s no end date? And no strike price? If the price today rose $1,000 could he immediately get out and be 11 bitcoins*1000 ahead? Who on earth is on the opposite side of this bet?

  20. Who else took the position and is now cursing the whale and shitposter both

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