According to HyperInsight monitoring, on January 22, trader address 0x61cee opened a leveraged long position at 17:02, buying 2996.01 ETH at an average price of $3005.44 using 20x leverage, currently showing minor profits.
Risks and Rewards of Leveraged Trading
Notably, the trader also shorted a silver-linked asset with a 20x leverage, entering at an average price of $89.71. However, this position has generated a floating loss of up to $1.004 million so far.
- ETH Long Position: 2996.01 ETH at an average price of $3005.44
- Silver Short Position: Floating loss of $1.004 million
This case highlights the double-edged nature of leveraged trading in the crypto market, where profits can be amplified, but so can losses.