2025-12-07 17:22:18

The night Ethereum fell below $3,000, a legendary whale completely crashed.

In the early hours of December 7, the market witnessed a bloodbath—the guy with the address ending in 0x9ee, who once made a killing of $10.66 million by sniping ASTER short positions and was basking in glory. But after closing his positions in November, he got cocky and immediately opened $154 million in ETH long positions, even adding to his XRP holdings.

Now? He’s sitting on an unrealized loss of $13.55 million (ETH) + $11.38 million (XRP), for a total paper loss approaching $25 million. What’s worse, his ETH liquidation price is hovering around $2,497. If the market drops a few more points, he’ll be wiped out completely.

This guy even publicly bet against the founder of a leading exchange before, looking all high and mighty. Turns out, no matter how skilled a trader you are, if you go all-in with high leverage against the trend, you can lose everything overnight.

That’s the reality of the market—getting the direction right isn’t real skill; surviving is true mastery. Those shouting “buy the dip” and “all in” should take a good look at this case: leverage is a double-edged sword—the harder you go, the faster you die. Position management will always be ten thousand times more important than predicting price movements.

ETH0.82%

ASTER0.28%

XRP-0.23%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

10 Likes

Reward
10
7
Repost
Share

Comment

0/400

SchrodingersFOMO

· 12-07 17:52

All in with one bet, wiped out overnight—this is the true nature of leverage.

View OriginalReply0

MevShadowranger

· 12-07 17:50

This is the consequence of going all-in—once a legend, now reduced to a textbook example overnight. Staying alive is more important than anything. Leverage can really be deadly. Yet another all-in player, a bloody lesson right in front of us. What's the use of predicting the right direction if you still end up dying because of poor position management? Seeing his liquidation price makes me nervous for him; one plunge and it's all over. Even a genius trader can't resist the temptation of going all-in against the trend. This is the real market textbook—more valuable than anything else. No wonder they say survival is a skill; dead people can't make money.

View OriginalReply0

WhaleWatcher

· 12-07 17:42

Ah, this is the price of greed. Once you've made big money, it's easy to get cocky. Going all-in in one shot and getting liquidated—serves him right. This guy's liquidation price was right on the line, yet he kept betting the drop would stop. Playing with too much leverage is really playing with fire—$25 million gone, just like that. He used to be so arrogant, making bets against others. Now he's been slapped in the face. Basically, once you've made money, you start thinking you're invincible—well, reality just gave him a slap. This is the best lesson there is—better than any risk management course.

View OriginalReply0

DefiOldTrickster

· 12-07 17:35

Oh man, this guy is a textbook example of what not to do. After making over 10 million, he started getting cocky and went all-in with 154 million on a long position. Isn’t this the classic “back to square one overnight” scenario? Let me tell you, I did this myself back in the day. The higher your leverage, the faster you die—that’s a lesson paid for in blood. His liquidation price is only $2,497; a random flash crash in the market could send him straight to the grave. He’s already down 25 million and still hanging on? That’s pure gambler mentality. Position management is always, damn it, ten thousand times more important than predicting the market’s direction. Those people yelling “All in” and “buy the dip” every day really need to study this case.

View OriginalReply0

GateUser-9234e9a9