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How expensive is the faith tax? Watched a good show last night.
ETH slightly dipped, a big whale with $12.2 million principal used 25x leverage to go long ETH, and ended up hitting the liquidation line again. Entry price was 3190, liquidation price stuck close to 3042, with unrealized losses exceeding $20 million—it's no exaggeration to say it evaporated a Maybach and an Hermès bag in a second.
But this guy was very calm. He turned around and added $200,000 to cover margin, turning what could have been a total wipeout into a form of performance art. Liquidation → add margin → liquidate again → add more... Just in December alone, there have been several "narrow escapes." This tuition cost—spending tens of millions of dollars—makes him the most expensive believer in the crypto world.
What can we learn from this?
**High leverage against the market** = basically working for the exchange. Replenishing margin? That’s just throwing money into a bottomless pit elegantly. The legendary stories of big players are entertaining, but don’t risk your own fortune for the show.
Honestly, spot trading is the safest. Leverage, you really have to handle with care. What will happen in the next episode? Worrying indeed.
$BTC $ETH $BNB
Replenishing margin and getting liquidated again, then replenishing margin again—basically self-mutilation.
This guy really treats the exchange like an ATM, and doing the opposite is just paying tuition.
Weakly asking, after so many margin adds, when will it end?
Leverage is like poison; advising people not to touch it is not being pretentious.
The 25x dream, in the end, turned into a bottomless pit.
Spot trading is the real way; everything else is just inviting trouble.
I see through this move—it's just using money to buy lessons.