An address used 40x leverage for small-scale trading over the past month and lost $4.99 million.

According to ME News, on March 4th (UTC+8), on-chain analyst Ai Yi (@ai_9684xtpa) monitored a certain address that prefers to use 40x leverage for trading. In the past month, it has lost $4.99 million, with 20 out of 50 trades being profitable, a win rate of 40%. This address has been using 40x leverage to trade BTC since February 18th, taking both long and short positions. The opening and liquidation prices are often only a few hundred dollars, sometimes even less than $100. Most of the time, the wins are small and the losses are large, but the address continues to place orders frequently, holding positions for no more than 24 hours. (Source: ME)