On March 4th, according to on-chain analyst Ai Yi (@ai_9684xtpa), a certain address prefers to use 40x leverage trading. Over the past month, it has lost $4.99 million. Out of 50 trades, 20 were profitable, with a win rate of 40%.

This address has been using 40x leverage to trade BTC since February 18th, engaging in both long and short positions. The opening and liquidation prices are often only a few hundred dollars apart, sometimes even less than $100 at the extreme. Most of the time, it wins small and loses big, but still opens trades frequently, with positions held for no more than 24 hours.