"The anonymous trader loaded the new Hyperliquid wallet with capital and went long on toncoin (TON), amounting to 768,058 TON worth $1.31 million at 6x leverage, with a liquidation price of $1.4213."
"At 6x leverage, a move of roughly 16.7% against the position from entry would trigger automatic liquidation, wiping out the collateral in full, emphasizing the risks involved."
"With double-digit daily swings being routine in crypto, a liquidation price 16% below entry on a $1.31 million position is not a wide margin of safety."
A Hyperliquid wallet deployed $1.31 million into a 6x leveraged long position on toncoin (TON) on May 5, setting a liquidation price at $1.4213. The trade reflects a heightened risk appetite as bitcoin surpassed $81,000 for the first time since January. The trader, who created a new wallet, took a significant position of 768,058 TON. The leverage used means that a 16.7% adverse price movement could lead to liquidation, highlighting the volatile nature of the crypto market.
Read at news.bitcoin.com
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