Economic news

Trader Makes $45M Profit on Ethereum Price Drop

Experts of the Hypurrscan portal сообщили that a professional trader made a profit of almost $45 million by shorting () with 50x leverage until the coin falls below $3000.

As analysts noted, the trader initially opened a short position with 50x leverage when the price of ETH was around $3388. This means that he borrowed the from a broker on the market, sold it at the current price at the time, and was ready to buy it back when the price dropped.

Experts emphasized that with the increase in the leverage ratio (in this case 50x), the risk of loss also increased sharply. However, the investor still benefited from his actions, since the Ethereum rate really began to gradually fall.

After ETH dropped below $3100, the trader made $44,9 million in profit. In addition, the investor earned $2,3 million in fees for funding his leveraged position.

According to analysts, the investor was extremely lucky, because if the cryptocurrency quotes changed, he could have suffered very significant losses.

Source

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