Whale just opened a 53x long ($13M) on Btc and 34x long on Eth ($1.2M) on chain

This degen trader opened 2 insanely leveraged longs on GMX, a decentralized perps protocol. The wallets liquidation levels are as shown in the picture, 1830 for Eth and 27668 for Btc. A 2% move down will liquidate the Btc position which is a $13M position! A $40 move down on eth would liquidate this wallet too.

https://preview.redd.it/1uzlhc52yosa1.png?800&format=png&auto=webp&s=a35b7cb8135de35703d63f8bb1f7c3a7264c72e9

Leverage trading is not for everyone but you have to be a different breed to be this bold. Either that or you know something? It's also possible the whale is longing on chain and shorting on a centralized exchange as a delta neutral strategy too. Which one of these scenarios do you think is more likely? I think he's a degen and is lighting his money on fire.

​

You can follow the mentioned whale's wallet here:

https://debank.com/profile/0xe8c19db00287e3536075114b2576c70773e039bd