Trader Opens $1.96M MEGA Long at 1x Leverage, Already Down $402K
Key Takeaways: The 0xcc15 trade illustrates one of the most persistent misconceptions in crypto trading, i.e., that 1x leverage is safe. While it is true that 1x leverage typically prevents forced liquidation, because the trader is not borrowing capital beyond their collateral, it does not limit the absolute magnitude of potential loss. A $1.96 million position on a volatile altcoin can still produce hundreds of thousands of dollars in losses even with zero borrowed capital. At $402,000 in unrealized losses, the position is currently down approximately 20% from entry. Whether the trader holds or exits will depend on their conviction in MEGA’s near-term price recovery. The Myth of Safe Leverage
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