Meet @qwatio — the only trader on Hyperliquid with a story more thrilling than James Wynn.
He was liquidated 6 times in just 3 days recently, losing ~$10M.
1/ Let's take a look at his wild journey on Hyperliquid.
3/ He took advantage of Hyperliquid's mechanics to open massive positions with 50x leverage.
After pulling out all margin and profits, he let 160,234 $ETH($306.85M) get liquidated, leaving the Hyperliquidity Provider (HLP) to absorb the loss.
Hyperliquid then reduced the maximum leverage of $ETH to 25x to prevent this from happening again.
4/ Later, someone followed @qwatio's playbook, manipulating the price of $JELLY(jellyjelly) to make profits, causing losses to the Hyperliquidity Provider (HLP) again.
A massive whale with 124.6M $JELLY($4.85M) is manipulating the price of $JELLY(jellyjelly) to make Hyperliquidity Provider (HLP) face a loss of $12M!
He first dumped $JELLY, crashing the price and leaving HLP with a passive short position of 398M $JELLY($15.3M).
Then he bought $JELLY back, driving the price up—causing HLP to suffer a loss of nearly $12M.
7/ He made over $10M in each of the wallets 0xe4d3...2c62 and 0xf3F4...057c.
The final trade from wallet 0x51d9...9921 brought in over $9M, recovering all previous losses and pushing the wallet's total profit to $4.79M.
8/ But his recent trades haven't gone so well.
3 days ago, he started trading with a new wallet, 0x916E...eD32, but got liquidated 6 times in just 3 days.
2 hours ago, he deposited another 4.5M $USDC to continue to go long on $BTC and $ETH.
9/ Wallets:
151.34K
693
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