Oh, Machi Big Brother sure knows how to play!
Huang Licheng sold over 60 NFTs in six months, but lost more than $2.35 million trading highly leveraged contracts!
On October 28, according to monitoring by Lookonchain, Huang Licheng sold more than 60 NFTs over the past six months to fund highly leveraged perpetual contract trades, racking up cumulative losses of over 1,000 ETH, worth approximately $2.35 million.
This is another reminder that owning assets and having a consistent ability to trade are two very different things in the crypto market.
Selling NFTs for liquidity and then putting that money into leveraged contracts is essentially turning existing assets into high-risk trading capital. If the market keeps moving against you, leverage can magnify losses and drain funds quickly.
Especially in the highly volatile crypto market, getting the direction wrong isn't the real danger. The real danger is doubling down after a loss without setting a clear risk limit.
Even whales lose money, and the trades of well-known on-chain traders are no reason to blindly copy their moves. Managing leverage, setting stop-losses, and keeping enough funds in reserve matter far more than chasing a big win.
#ETH #NFT #Cryptocurrency #ContractTrading
Huang Licheng sold over 60 NFTs in six months, but lost more than $2.35 million trading highly leveraged contracts!
On October 28, according to monitoring by Lookonchain, Huang Licheng sold more than 60 NFTs over the past six months to fund highly leveraged perpetual contract trades, racking up cumulative losses of over 1,000 ETH, worth approximately $2.35 million.
This is another reminder that owning assets and having a consistent ability to trade are two very different things in the crypto market.
Selling NFTs for liquidity and then putting that money into leveraged contracts is essentially turning existing assets into high-risk trading capital. If the market keeps moving against you, leverage can magnify losses and drain funds quickly.
Especially in the highly volatile crypto market, getting the direction wrong isn't the real danger. The real danger is doubling down after a loss without setting a clear risk limit.
Even whales lose money, and the trades of well-known on-chain traders are no reason to blindly copy their moves. Managing leverage, setting stop-losses, and keeping enough funds in reserve matter far more than chasing a big win.
#ETH #NFT #Cryptocurrency #ContractTrading