Papertrade sees 12,657 liquidations of 1000x positions, $20.1M in losses
- —5,836 addresses opened 61,222 positions at 1000x leverage
- —12,657 1000x positions were liquidated, with $20.08M in losses
- —ETH positions lost $12.08M, BTC positions lost $8.01M
- —Median holding time for a liquidated 1000x position was 7 minutes 35 seconds
Why it matters: Extreme 1000x leverage on a new platform triggers near-instant mass liquidations, amplifying risks for retail traders.
Source: TokenPost