Leon Huang's Massive ETH Long Flips Red Amid Volatility
On March 6, just before U.S. markets opened, Ethereum saw a slight pullback, sending ripples through leveraged positions. Chain data reveals that a major long position tied to prominent figure Leon Huang rapidly shifted from profit to loss.
The position, leveraged at 25x, controls approximately $14.7 million worth of ETH with an average entry price of $2,070. As prices cooled, the trade now sits $160,000 in the red—marking a 27% unrealized drawdown.
Liquidation Looms as Equity Dips
The position faces liquidation at $2,024, currently just 1.3% below market value. Any further drop could trigger automatic closure, especially in volatile conditions.
Earlier, partial take-profit orders were set between $2,085 and $2,202 to close out $2.32 million of exposure. However, price failed to reach those levels. Meanwhile, available margin has plummeted from $860,000 to $450,000—nearly halved.
- Position: 25x leveraged long
- Size: ~$14.7M
- Average entry: $2,070
- Liquidation price: $2,024
- Unrealized P&L: -$160K (-27%)
- Distance to liquidation: 1.3%
This incident underscores the risks of high-leverage trading, even among seasoned market participants.