Crypto whale liquidated for $308M in leveraged Ether trade

A large cryptocurrency trader, known as a whale, lost more than $308 million on a leveraged Ether position, underscoring the risks of leveraged trading during volatile market conditions.

The unknown crypto trader was liquidated on their 50x leveraged long position for over 160,234 Ether (ETH), worth more than $308 million at the time of writing, Hypurrscan data shows.

Leveraged positions use borrowed money to increase the size of an investment, which can boost the size of both gains and losses, making leveraged trading riskier compared to regular…