- A number of epic liquidations took place on April 1
- This was due to poor risk management by altcoins traders
- KAVA spiked to almost $5 and retraced in no time
A mysterious broker who changed his Twitter false name to @kavaisscam revealed his miserable tale about his long. Here’s the reason he had chosen to bet everything on Kava Network (KAVA)- and very quickly thought twice about it 20 minutes after the fact.
Utilized exchanging becomes risky on April 1
The broker has taken to Twitter to share the tale of his exchange experience on April Fools’ Day. He designated his whole portfolio to a KAVA/USDT position on the “huge” declaration of Kava Network’s advancement.
Doubtlessly, this declaration was about a supposed coordinated effort between Kava Network (KAVA) and Tesla electric vehicles monster. According to the screen captures shared on Crypto Twitter, the declaration was set apart as a joke 32 minutes after distribution.
In any case, the merchant chose to open a 40x long on his $8,400 position as KAVA began siphoning from the $4.53 level. Then, KAVA spiked to nearly $5-and backtracked quickly after the declaration was set apart as a joke.
As KAVA dropped to $4.65, the dealer got a letter from Binance (BNB) informing him that his KAVA/USDT position was exchanged because of an inadequate edge balance.
The broker who lost his whole portfolio being only one stage from a $600,000 benefit repeated that stop-misfortunes ought to generally be utilized while exchanging with influence.
A couple of hours after the fact, he even posted the disclaimer that his past words were additionally a joke-however the letter from Binance doesn’t look altered.
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Not just Kava A few merchants on Crypto Twitter uncovered that they had succumbed to comparative stunts with various resources. Specifically, beginning phase Solana-based convention Kineko (KKO) posted a declaration about supposed support from six-time Ballon d’Or victor Lionel Messi.
Broker and financial backer @AltcoinVentures presented a string in plain view of his sold $170,000 long ONEUSDT position.
He opened it one year prior on April 1 following “the declaration of declaration” by Ethereum executioner Harmony (ONE).
The post April Fools’ Joke erased an Investors 40x Long appeared first on The Coin Republic: Cryptocurrency , Bitcoin, Ethereum & Blockchain News.
Source: https://www.thecoinrepublic.com/2022/04/04/april-fools-joke-erased-an-investors-40x-long/