Trader Loses $24M on Ether Short in 12 Seconds Amid Price Surge
A prominent crypto trader reportedly lost $24 million on an Ether short position during a rapid price increase.
A trader operating the Hyperliquid wallet known as 'pension-usdt.eth' reportedly lost $24 million on an Ether (ETH) short position, as reported by CoinDesk. This significant loss occurred within a 12-second period.
The loss was triggered when the trader's 50,000 ETH short position was liquidated as Ether's price surged. Five separate liquidation orders contributed to pushing the price higher during the unwind of this position.
This event highlights the volatility inherent in cryptocurrency markets. Rapid price movements can lead to substantial gains or losses, particularly for leveraged positions such as short selling, as observed in this instance.
Original reporting
This brief condenses the reporting linked above and adds analysis based on NomadCard's live fee dataset. It is not financial advice. Corrections: if you spot an error, reach us via the contact page.