$20.89 million down the drain! This large investor is going long on ETH with 25x leverage, and is now just $20 away from getting liquidated.

[Coin World] The market took a sharp turn, and Machi's high-leverage long positions strategy faced a Waterloo.

This large trader previously opened a 25x leverage long position on Ethereum, but was partially liquidated during the crash and had to close part of the position to stop the loss. However, they still hold 3,300 ETH, with a market value close to 9.5 million dollars.

What’s more dangerous is that there is only a $20 buffer left before the next liquidation—this level of volatility could disappear in just a few minutes under the current market conditions.

Book loss? It has exceeded 20.89 million dollars.

High leverage trading can make people rich overnight in a bull market, but when a bear market hits, the liquidation line hangs over us like the sword of Damocles. Machi's experience reminds us once again: leverage is a double-edged sword, and risk control is always more important than profit.