Crypto trader loses over $300 million in 3 hours
In one of the most notable single-day liquidations, a cryptocurrency trader lost over $300 million in just three hours. The trader, identified as Qwatio , saw his massive short positions, worth more than $334 million, wiped out in a familiar pattern in his recent trading, according to the latest on-chain data retrieved by Finbold from Lookonchain on July 14. Qwatio losing cryptocurrency positions. Source: Lookonchain Data from his public wallet (address: 0x916E) shows a cascade of forced liquidations between 11:42 AM and 1:24 PM UTC on Monday. In total, Qwatio was forced to close positions amounting to approximately 1,743 Bitcoin (BTC), worth around $211 million; 33,743 Ether (ETH), valued at $102.3 million; and 15 million FARTCOIN, worth about $20.6 million. After fees, his net realized loss on these trades was nearly $25.84 million. Bitcoin rally liquidates shorts Qwatio had placed huge bets against the market, opening aggressive short po...