An unlucky trader was liquidated eight times in the last week, according to blockchain analytics service Lookonchain.
The trader, under the handle Qwatio, saw a total loss of $12.5 million. In the latest liquidation on Monday, Lookonchain said Qwatio was partially liquidated for an Ether (ETH) position that was leveraged by 25X.
A new liquidation price was set for $2,534, and Ether has been drifting between $2,425 and $2,519 in the last 24 hours.
The Bitcoin position suffered a similar fate and was partially liquidated, with a new liquidation price set at $109,170.
Only days before, on Thursday, Lookonchain said Qwatio had been liquidated 6 times in just 3 days, losing $10 million in total at that point.
Down after previously making a profit
Qwatio managed to net a profit in March after going long on Ether and Bitcoin with 50x leverage right before US President Donald Trump announced the executive order to create a crypto reserve, netting $6.8 million in profit.
In another trade during March, Qwatio also opened a $3.46 million position with 50x leverage on US First Lady Melania Trump’s memecoin $MELANIA and successfully defended a Bitcoin position leveraged 40x by adding more margin after whale hunters tried to liquidate it.
James Wynn opens a 40X leveraged Bitcoin short
Meanwhile, multimillionaire crypto trader James Wynn — who famously lost $1 billion on risky trades — has opened a small short Bitcoin position.
Lookonchain said in an X post on Sunday that Wynn was back with a 40s leveraged Bitcoin (BTC) short position of just $37,000 and a liquidation price of $108,630, which could have potentially netted him $1.49 million if it succeeds.
Wynn is known for making significant bets on crypto; he was liquidated for almost $100 million in late May, again for $25 million on June 4.
He may have also been responsible for a $300 million leveraged Bitcoin bet on June 10 under an anonymous account to avoid whale hunters, whom he claimed were trying to liquidate his positions.
Later that same day, Wynn flipped his position when Bitcoin was at $107,250, closing the short and instead going long for $44,466. Bitcoin has been drifting between $107,228 and $108,771 in the last 24 hours, according to Congecko.
Related: Hyperliquid trader James Wynn goes ‘all-in’ on $1.25B Bitcoin Long
Another trader cashes in, too
Another little-known crypto trader also recently had some success trading crypto after turning $6,800 into $1.5 million in profit while accounting for over 3% of maker-side liquidity on a major crypto exchange.
Over two weeks, the account recorded a trading volume of $1.4 billion and consistently ranked among the top contributors to the exchange’s total maker volume.
Magazine: Bitcoin $110K ‘bull trap’ concerns, James Wynn loses $25M BTC: Hodler’s Digest, June 1 – 7
