A seasoned trader's performance on a certain decentralized derivatives platform has made many people realize the brutality of high-leverage trading.

On December 16th, he experienced 10 liquidations in a row on his ETH long positions. According to on-chain data, this guy frequently used extreme leverage of 15x to 25x to go long on ETH. Market fluctuations caused such high leverage ratios to be easily crushed instantly. As a result, his account balance plummeted from $1.3 million to just $53,178—imagine the huge gap.

What's even more surreal is that this isn't the first time. Looking back at his trading history, he was liquidated once on October 10, 2024, with a $79 million ETH long position. This pattern clearly shows a trading habit: betting on market direction with extreme leverage, and facing liquidation whenever the market shifts slightly.

Interestingly, based on his past behavior, it's very likely that after this liquidation, he will inject more funds and restart the high-leverage game. This cycle of "liquidation → adding funds → continuing high leverage" is quite common in trading circles.

Recently, BTC and DOGE have also experienced significant volatility, and the overall market risk appetite is changing. Considering this trader's approach, claiming there's no risk would be self-deception. What do you all think about this aggressive trading strategy?