This Trader Got Liquidated 14 Times in One Day: Here is How Much He Lost

Lookonchain revealed that Andrew Kang (Co-Founder of the crypto-focused venture capital firm Mechanism Capital) lost over $430,000 in a single day after the recent crash of the digital asset market liquidated his long positions.

  • Kang’s positions opened on August 18 included Bitcoin (BTC), Ethereum (ETH), and Arbitrum (ARB), as he traded with up to 100x leverage.
  • However, he lost all 14 long trades that day due to the market crash and his risky strategy. The total losses equaled approximately $432,000.
  • Some X (Twitter) users commented below the post that trading with such high leverage is equal to gambling, warning investors to be more careful when entering the ecosystem.
  • As CryptoPotato previously reported, the crypto market crash, more specifically bitcoin’s plunge to as low as $25,300 at the end of last week, triggered nearly $1 billion in liquidations.
  • Still, the largest single liquidation took place on an ETH-BUSD trade on Binance, wiping out a trader for over $55 million.
SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.


.custom-author-info{ border-top:none; margin:0px; margin-bottom:25px; background: #f1f1f1; } .custom-author-info .author-title{ margin-top:0px; color:#3b3b3b; background:#fed319; padding:5px 15px; font-size: 20px; } .author-info .author-avatar { margin: 0px 25px 0px 15px; } .custom-author-info .author-avatar img{ border-radius: 50%; border: 2px solid #d0c9c9; padding: 3px; }

The post appeared first on CryptoPotato

Buy Bitcoin with Credit Card

BitMex Leverage Trading

Automated Trading Bot

Related Posts

Leave a Reply

Bitcoin (BTC) $ 97,230.05 3.67%
Ethereum (ETH) $ 3,321.26 7.44%
Tether (USDT) $ 1.00 0.17%
Solana (SOL) $ 249.86 6.63%
BNB (BNB) $ 621.84 2.07%
XRP (XRP) $ 1.11 1.41%
Dogecoin (DOGE) $ 0.383997 1.07%
USDC (USDC) $ 1.00 0.13%
Lido Staked Ether (STETH) $ 3,322.94 7.39%
Cardano (ADA) $ 0.787639 4.64%