$337 Million Liquidated! Trader Loses $5.2 Million
In the last couple of hours, $337 million of long positions were liquidated, mainly on OKX and Binance, with Bybit and Huobi also affected. The most impacted assets include BTC, ETH, $NOT, PEPE, and $SOL.
A trader on OKX lost $5.2 million due to exceeding leverage. This incident highlights the importance of incorporating hedging and stop-loss tactics into your trading strategy. Using leverage of 50x or 100x is extremely risky and can lead to significant losses.
Stay safe and remember to do your own research (DYOR). This is not financial advice (NFA). Your support is greatly appreciated.