Hundredfold Leverage Life-and-Death Game: A Review of Recent Crazy Bets and Gambles by Crypto Whales
A thought of heaven, a thought of hell.Author: Fairy, ChainCatcher
Editor: TB, ChainCatcher
Starting from February 25, the price of Bitcoin entered a period of intense volatility, experiencing a significant "N-shaped" fluctuation with a price swing of over 15% in just one week. The Crypto Greed and Fear Index has remained in the "Fear" zone, while retail investors are anxious amid liquidation alarms, top whales, however, have sensed the "smell of blood"…
In this market game, some have accurately bottomed out and topped off, making millions; others have bet in the wrong direction and faced liquidation. Who is stirring the market? And who is struggling in the turmoil?
This issue will delve into the miraculous operations of whales in the recent market, decoding how crypto giants perform the "blood on the knife's edge" capital game in the contract battlefield.
Cool X's Hundredfold Contract Strategy : Long and Short Dual Play + Precise Timing
On February 25, Cool X, once dubbed the "cancer of the crypto world," turned an initial investment of $2,000 into $1 million in a short time, with profits of $600,000 on Weex and $500,000 on OKX.
According to user @sunyangphp's summary, Cool X's operations are as follows:
Background: ETH showed a wide range of downward fluctuations on February 25, with significant volatility.
- Utilizing Volatile Markets for Long and Short Dual Kill
The "Long and Short Dual Play" strategy involves simultaneously executing long and short positions in a volatile market, leveraging high margins (dozens of times) to amplify profits. Multiple short-term operations captured most of the profit from the fluctuations.
- Catching the Final Wave of Plunge, Then Going Long
Seizing the final wave of ETH's plunge, Cool X accurately reversed to go long at the lowest point.
- Decisive Adaptation at Critical Moments
During the last wave of the plunge, the market experienced a slight rebound. Cool X initially misjudged the trend and went long, but quickly realized the momentum was wrong and decisively switched to short.
50x Leverage Whale : Luck and Market Timing Achieving Daring Comeback
On March 2, a whale using 50x leverage to go long on BTC and ETH on Hyperliquid started with 6 million USDC and realized a profit of 6.83 million dollars within 24 hours.
Whale Address: 0xe4d31c2541A9cE596419879B1A46Ffc7cD202c62
According to @ai_9684xtpa's summary, the operations are as follows:
- Initial Position: 6 Million USDC Capital, 50x Leverage
On March 2, this whale opened a long position of over 200 million dollars using 50x leverage, with initial positions including long positions in BTC and ETH.
- ETH: 49,384 units, opening price $2,196, liquidation price $2,133.9
- BTC: 1,260 units, opening price $85,671, liquidation price $84,629
- Adding to ETH Position (At this point, a floating loss of $900,000)
Around 10:30 PM, the whale chose to add to the position, increasing the long position by 914 ETH and 41 BTC.
- Adjusting Position: Closing Part of BTC, Adding to ETH
Close to 11 PM, the whale closed 469.48 units of the BTC long position and significantly increased the ETH position, raising the ETH long position to 88,510 units.
- Market Turnaround: Trump's Speech Drives Up Prices
At 11:30 PM, Trump's speech quickly heated market sentiment, with BTC breaking through $87,000 and ETH surpassing $2,250. The whale's position turned from a floating loss to a floating profit, with ETH long positions reaching a floating profit of $6.46 million.
- Gradual Profit Taking
He first reduced the long position of 88,510 ETH to 22,570 units, then completely closed the position. He also closed the BTC long position, nearly clearing out 831.57 units of BTC long positions. Profits of 6.83 million dollars were realized within 24 hours.
(Note: Coinbase supervisor Conor discovered that the funds from this address originated from phishing and that it was a large player on Roobet.)
Whale "Set 10 Big Goals First" : Profits and Losses in an Instant, Dancing on the Edge of a Knife
The whale with the ID "Set 10 Big Goals First" once had a floating profit of 700 million, but ultimately it was just a dream. In the recent market turmoil, this whale also performed a series of extreme operations with high leverage.
According to @ai_9684xtpa's summary, the operations are as follows:
- Painful Liquidation
On February 25, when the price of Bitcoin dropped to $89,000, the whale was forced to liquidate 1,783.48 BTC at an average price of $89,138, totaling $159 million, while the average opening price was as high as $100,320.
Subsequently, the whale completely closed all 5,185 BTC, incurring an overall loss of $24.32 million, but claimed that some profits were not accounted for by the software, and the overall capital remained intact.
- Making a Comeback, Profiting 15.38 Million Dollars
On March 1, he went long on 1,698 BTC at an average price of $83,568.65, worth $142 million. Ultimately, this long position was closed in the early hours of March 3, realizing a profit of 15.38 million dollars.
- Reversing to Short, Betting on Market Correction
After closing the position, he turned around and opened a short position six hours later, holding a short position of 2,285 BTC (approximately $214 million), with a margin of $53.45 million and an opening average price of $93,729. The whale closed the position near $90,000 to take profits.
- Turning Back to Long (Already a Floating Loss of 15.62 Million Dollars)
After taking profits, he quickly went long again, while adding to ETH:
- BTC: Opening average price $90,207, holding 2,069 units
- ETH: Opening average price $2,285, holding 10,800 units
A thought can lead to heaven, another to hell. Whether it's Cool X turning $2,000 into $1 million, the whale betting on the market with 50x leverage, or the whale "Set 10 Big Goals First" who once had a floating profit of $700 million but ultimately lost it all, their trading strategies are filled with drama.
Every opening and closing of a position could be a watershed moment in fate. Their stories are not only extreme interpretations of trading strategies but also the ultimate test of market psychology and capital management. The market is always full of opportunities, and only those who respect the market at all times can find a glimmer of hope amidst the legends of sudden wealth and tragic losses.
Risk Warning
The whale trading cases summarized in this article involve aggressive strategies such as high leverage and high-frequency trading. While these operations can yield significant profits in extreme market conditions, they also carry extremely high risks. It is recommended that investors operate cautiously based on their risk tolerance, manage their positions reasonably, and avoid making impulsive decisions due to market sentiment fluctuations.
