The trader now holds a 5x long position of 2,900 ETH, with unrealized losses above $35 million and total losses exceeding $79.87 million after the market drop.
Huang Licheng was forced to close most of his 25x ETH long positions during a sudden market drop and was partially liquidated, according to PANews, which cited Onchain Lens. He now holds a 5x long position of 2,900 ETH and is sitting on an unrealized loss of more than $35 million. The episode has pushed his total losses to more than $79.87 million. Leveraged long positions amplify both gains and losses, leaving traders vulnerable to forced closures when prices move sharply against them.