A trader who held long positions on several tokens, including Bitcoin and Solana, lost $9.85 million due to the substantial downtrend in the digital asset market. The trader leveraged long positions on crypto futures in the Hyperliquid trading platform, but the market volatility caused prices to decline and liquidated his entries. To counter his losses, the trader deposited an additional $3.5 million USDC into Hyperliquid as a margin short. The liquidations of multiple assets by traders in the past 24 hours amounted to $156.68 million. While leverage can amplify profits, it also comes with high risks of significant losses in the volatile cryptocurrency market.



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