One ultra-leveraged Hyperliquid trader has been liquidated five times over the weekend and has lost nearly $3.7 million in the past week with aggressive bitcoin
and ether
shorts, according to on-chain data.
Don’t miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.
Qwatio, a heavily leveraged Hyperliquid trader in the style of James Wynn, has been opening short positions on BTC and ETH when the tokens are at sessional lows.
This move is a flip from his strategy earlier this year when he traded BTC and ETH via aggressive longs.
Qwatio first got on the radar of Crypto Twitter when they opened a 50x leveraged BTC and ETH bets worth $200 million in the hours before U.S. President Donald Trump signed an executive order to create a crypto reserve – which was a broad bullish catalyst for the market.
They also were a major holder of the Melania memecoin during its initial launch earlier this year.
Overall in the last 24 hours there has been $50 million of ETH and $31 million in BTC short and liquidated across the market, according to CoinGlass data.
Read more: James Wynn, the Trader Who Bet $1B on Bitcoin, Is Now Long Pepe
