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The market continues to experience a big dump, and Machi (known in the circle as Huang Licheng) is making quite a bold move.
On-chain data shows that he opened a 25x leveraged long position on Ethereum, only to be repeatedly educated by the market—resulting in multiple forced liquidations. Currently, the paper loss has exceeded 19.35 million dollars, and this number is still fluctuating.
That's how high leverage works: it's exhilarating when prices rise, but it evaporates instantly when they fall. The recent fall of ETH has been merciless, even veteran players can't withstand it. Friends trading contracts, after seeing this case, are you still not lowering your leverage?