#数字资产市场洞察 The Leverage Game of the Chosen One: $ETH 50,000 Dream Chase Coins

Recently, I saw this guy’s trading record again—holding 5,000 $ETH positions, with a 25x leverage long position, about to approach the liquidation line. Such operations have long been routine for him.

What’s even more incredible is that 47 days ago, he still had an unrealized profit of nearly $45 million, but in the blink of an eye, his account balance dropped to just over $1,700. Shouldn’t he close out and exit? But instead, he made a big recharge and kept pouring money in.

This raises a question: how does this guy’s stomach for risk stay so thick? Where does the money keep coming from?

Careful analysis reveals three clues:

**First is the foundation of traditional business**. The live streaming platform he runs successfully went public in 2023, and he still holds a large stake. Through share buybacks, he continuously cashes out. This is his core base.

**Second is the 2017 crypto boom**. He participated in founding a certain crypto project, which raised $51.6 million through private placements. Although the project later failed, the key is that after early tokens were unlocked, the team sold off en masse, cutting a big wave of leek farmers, and he naturally got a share.

**Third is even more impressive—NFT arbitrage chain**. As a top-tier NFT series holder, he continuously converts digital assets into usable liquidity through selling, airdrops, and NFT loans. This is his bleeding source.

In the end, ordinary retail investors are wiped out after just one liquidation. But for him? He’s connected to three or four funding lines, and even losing tens of millions at once doesn’t stop him from gambling big. That’s why some say—the crypto market tests not just technical analysis, but how thick your family’s financial foundation is.