#sui

From the self-narrative of a bankrupt whale, hoping to help you

How to earn 100 million dollars from 500 dollars, let me tell you slowly

1. In March last year, inscriptions emerged, I went all in on ordi at 100 dollars each, and cleared out at 5000 dollars.

2. In June, Ethereum inscriptions (eths) appeared, bought 100 at 80 dollars, and cleared out at 5000 dollars.

3. When Bitcoin inscriptions (sats) hit 80%, I went all in with 500,000 dollars and sold for 3 million dollars.

⛽️At this point, for some people, it might be time to exit, but not for me, because I had my eyes on another target, which is Sui.

4. In November last year, I entered with 2.5 million dollars at 5x leverage, bought a house in Wuhan for 200,000 dollars, and I forgot how to spend the remaining money. By March this year, I had basically liquidated all positions, leaving just a base position, at this time, my assets were 10 million dollars.

5. During this time, I was waiting for the opportunity to re-enter Sui, I am very optimistic about it, and still am.

6. The opportunity finally came this year when Sui was at 0.5, I bought the spot with all my funds. Then I staked it on a lending platform.

7. When Grayscale wanted to buy Sui, I started borrowing from the staking platform, then bought Sui and deposited it again to borrow more, and so on in a cycle. The funds reached 100 million dollars.

The reason for the liquidation was that my borrowing collateral ratio was too high. When Sui fell to 2.99, my collateral ratio reached 75%, and I was liquidated.

Should the story end here? No, my mindset is still okay. The cryptocurrency world is not short of opportunities, just consider it a lesson learned, an expensive lesson.

Now Sui has rallied back up, I really cried my heart out.😭