A trader with wallet tag “0xa523” has reportedly lost $41.9 million in the past 40 days of trading on Hyperliquid exchange.
According to Lookonchain, the same trader opened a 10% long position with $20.5 million in 450,766 HYPE tokens just a few hours ago.
However, what stands out is that despite the losses, as reported by Lookonchain the trader still had a 66.67% win rate after taking 15 trades over the same period. This means that he won more trades than lost, but still ended up with a massive monetary loss. On-chain data reveal that the trader lost $35 million on Sept 5 alone trading Ethereum, and $7 million on Sept 17 on a trading on Bitcoin.
This baffles some in the crypto space as many question how a trader with a high win rate could still post such losses.
One user under the comment said “66% win rate and biggest loser? Math is not mathing”. Another FOMOmeter: Crypto Sentiment said “A 66% win rate and still down $41M tells you everything. Greed blinds risk management, and sentiment swings punish size harder than skill ever saves.
The debate following the post questions how to balance between wins and losses. Even if more trades are profitable, one or more large losses can outweigh smaller wins, therefore, leaving the account with negative losses. In this case, the size of the positions seems to have done more damage.
HYPE Lost 17% In 7 Days
At the time of writing, Hype is trading for $45.11, this is a 4.94% dip in the last 24 hours, adding to a 17% drop in 7 days period. Meanwhile, the token saw up to a 30% surge in trading activity over the past 24 hours. This results in $584.64 million in trading volume, according to CoinMarketCap.
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