leverage

According to The Kobeissi Letter, the 2x leveraged long MicroStrategy ETFs ($MSTX, $MSTU) have both fallen about 82% this year; another 2x leveraged product $MSTP has also dropped 81%.During the same period, MicroStrategy ($MSTR) itself has decreased by 46% this year, with a single-week drop of 27% last week. As a result, $MSTX, $MSTU, and $MSTP nearly halved last week.The report points out that the leveraged MicroStrategy ETFs launched in 2024 (both long and short) have seen declines of over 90% since their launch, despite billions of dollars flowing in previously, but the leverage effect is significantly amplifying the losses.Note: Leveraged ETFs typically use a daily reset mechanism, aiming to achieve an integer multiple of the underlying's daily price changes. In highly volatile markets, even if the underlying has an overall increase or decrease over a period, frequent price fluctuations can cause the compounding effect to lead to actual performance deviating from the expected multiple, continuously eroding the net asset value. This is known as "volatility decay" (also referred to as Beta Slippage).

According to the official announcement, Bitget has launched the STRC (Strategy Variable Rate Perpetual Preferred Stock) perpetual contract. This contract is settled in USDT and supports up to 20 times leverage.

StableStock officially launched its leveraged spot trading feature today. Users can now directly use stablecoins to conduct leveraged spot trading on global market targets, accessing the real stock market through stablecoins.Leveraged spot trading supports zero interest for intraday trading: positions opened and closed before the end of the day's after-hours session do not incur interest, with only the overnight portion subject to interest calculation according to the rules, effectively reducing the holding costs for active traders. This covers major global markets, allowing for leveraged trading on over 700 targets, with a maximum leverage of about 10 times, including SK Hynix, Samsung Electronics, Zhizhu, and many popular US stocks; in addition to individual stocks, several short (inverse) ETFs are also included, providing options on both long and short sides.StableStock CEO Zixi stated: "Leveraged spot trading further connects stablecoin settlement with the real stock market, marking another step for stablecoins from being a settlement tool to becoming an entry point for real asset trading."Users must complete identity verification (KYC) and transfer funds to the leveraged account before use; interest calculation, forced liquidation, and other details are subject to the product page. Leveraged trading will amplify both gains and losses, so please use it cautiously.StableStock is supported by institutions such as YZi Labs, MPCi (Matrix Partners China), and Vertex Ventures, and currently supports trading on approximately 1,400+ global stock targets, with plans to continue expanding into more markets and categories.

According to monitoring by Onchain Lens, a giant whale deposited 2 million USDC into HyperLiquid and opened a long position of 31,255 contracts of CL with 1x leverage. This giant whale had previously incurred losses of over 4.06 million dollars.

GraniteShares announced the upcoming launch of the first leveraged ETFs in the United States based on SK Hynix, offering 2x long and 2x short exposure, providing investors with leveraged trading tools for a single AI storage leader.

According to Onchain Lens monitoring, Garrett Jin holds a long position of 1,268 BTC (5x leverage), and with the BTC price around $60,000, the current unrealized loss exceeds $20.4 million.

According to Lookonchain monitoring, a certain whale that shorted BTC, ETH, and SOL with 20x leverage four days ago has closed their position, making a profit of about 4.4 million dollars. This whale has now reopened a 20x leveraged short position, including 912.9 BTC (approximately 54.55 million dollars) and 10,025 ETH (approximately 1.565 million dollars).

According to Onchain Lens monitoring, a certain whale opened a 20x leveraged short position on Ethereum after 8 months of silence, currently holding 12,832 ETH, with a position value of 19.7 million USD.

According to the official announcement, Bitget has launched the RAM (2x Long DRAM ETF-T-REX) perpetual contract. Settled in USDT, it supports a maximum leverage of 20 times.

According to Onchain Lens monitoring, two newly created wallets that may belong to the same whale deposited 8 million dollars into Hyperliquid to open a 20x leveraged Bitcoin long position, currently holding 400 BTC, with a position value of 23.5 million dollars.

According to Hyperbot data, due to a short-term crash in the cryptocurrency market, Huang Licheng's 25x leveraged Ethereum long position was close to liquidation. Currently, Brother Maji has started to increase his position, holding 151 ETH, with unrealized losses narrowing to $5,000, and an investment return rate of -52.86%.

According to on-chain analyst @ai_9684xtpa, BTC has once again fallen below $60,000. The 5x leveraged Bitcoin long position of "1011 insider whale" agent Garrett Jin has incurred an unrealized loss of $21.12 million. The opening price for his 1,268.33 BTC was $76,117, and the marked price is $59,466, which has decreased by 21.8%.

According to Hyperbot data, the 25x leveraged Ethereum long position of Ma Ji Da Ge Huang Li Cheng continues to reduce its holdings, with only 100 ETH remaining. The liquidation price is currently reported at $1509, and the return on investment is -127.57%.

Previously, a certain whale opened a long position of 27.9 million XRP with 20x leverage and held a long position of 809.9 BTC with 20x leverage, with a total position value of about 81 million dollars. Currently, its BTC long position has an unrealized loss of about 2.8 million dollars, with a liquidation price of 56,960 dollars; its XRP long position has an unrealized loss of 1.17 million dollars, with a liquidation price of 0.948 dollars.

According to on-chain analyst Onchain Lens (@OnchainLens), Machi's ETH 25x leveraged long position was completely liquidated, resulting in a loss of 1.9 million USD. Notably, after being liquidated, Machi immediately opened a new ETH 25x leveraged long position, with cumulative losses exceeding 35.4 million USD.

The scale of U.S. leveraged ETFs is growing at a record pace, with investors' leverage usage also at a record high. Currently, the assets under management of the 3x long Nasdaq 100 Index ETF TQQQ have risen to approximately $40 billion, nearing historical highs. Meanwhile, the assets under management of the 3x long semiconductor ETF SOXL have reached a historical high of $34 billion. Since April, the asset size of SOXL has increased more than threefold, and the asset size of TQQQ has nearly doubled. In contrast, the 2x long Nasdaq 100 Index ETF QLD has grown by $7 billion during the same period, an increase of 88%, with a size close to the historical high of $15 billion. Driven by this, the total assets under management of U.S. leveraged ETFs have reached a historical high of $198 billion, a 55% increase during the same period.

BIT (formerly Matrixport) announced the official launch of its U.S. stock margin trading feature, which will be open for public testing starting June 26. BIT is the first platform in the cryptocurrency industry to offer margin trading functionality. Users can now submit margin loan applications through the official website or app. BIT will review applications based on account status and risk management requirements, gradually increasing the margin limits. Additionally, features such as securities lending are also in preparation and will be gradually opened based on regulatory requirements and product progress.During the public testing period, BIT will simultaneously launch the "First Margin Loan · Limited Time Interest-Free" and "Interest Cashback Gift" promotions: Users who use margin trading for the first time during the promotional period will enjoy 30 days of 0% interest on their first loan, allowing users to experience the efficiency of leveraged funds without interest. Elio Cui, head of brokerage services, stated: "BIT is the first to provide margin trading functionality, enhancing the customer journey from account opening, trading to fund leverage. This allows BIT customers to improve investment efficiency and strategically position themselves in the world's most wealth-generating assets without relying on bank cards or leaving the digital asset ecosystem."BIT also reminds users that while margin trading enhances the efficiency of fund usage, it also comes with corresponding risks. Users should fully understand margin rules and risk control mechanisms and participate cautiously based on their own risk tolerance.

According to Onchain Lens monitoring, in the past 4 hours, a certain whale opened a long position of 27,900,000 XRP with 20x leverage, worth 30,900,000 USD. This whale also holds a long position of 809.9 BTC with 20x leverage, worth 50,600,000 USD, currently facing an unrealized loss of over 2,600,000 USD.

According to Onchain Lens monitoring, in the past 24 hours, a certain whale opened a short position of 554,700 SOL with 20x leverage, worth 38.14 million USD; this whale also holds a short position of 2,577.62 ETH with 11x leverage.

According to Onchain Lens monitoring, as SPCX declines, a certain whale has opened a long position of 70,000 SPCX with a leverage of 20 times, valued at approximately 11 million USD, with a liquidation price of 134.42 USD.