AMP’s Last Straw
At 3:17 a.m., Chen Hao’s phone screen glowed, reflected in his bloodshot eyes.
On the Binance futures interface, the price of AMPUSDT was stuck at 0.000500. It had been range-bound for two straight weeks. In the community, people were shouting everywhere about “bottom confirmation” and “about to launch.” Chen Hao scrolled through Twitter, and one big V posted: “AMP is severely undervalued. 0.0005 is the bottom—go long with your eyes closed.”
He took a deep breath and transferred the last three thousand U in his account into the futures account, opening a 50x leveraged long.
“Anyway, it’s already fallen this far. How much lower can it go?” he muttered to himself. His finger hovered over the confirm button for two seconds, then he pressed it anyway.
The moment he opened the position, his heartbeat sped up. The price moved—0.000510, 0.000520—and the floating profit numbers kept jumping. Chen Hao’s mouth curled upward. In his mind, he was already calculating earnings. If it reached 0.0006, he would close the position and make nearly 6,000 U—enough to cover two months’ rent.
But the crypto market never follows the script.
At 4:00 a.m., a big bearish candle slammed down. 0.000510, 0.000505, 0.000500. Chen Hao’s hands started to shake. His margin ratio dropped from 80% to 30%. He wanted to add more margin, but there wasn’t a single cent left in the account.
0.000498.
When the liquidation notice popped up, he didn’t even have time to click anything. The system liquidated automatically—three thousand U vanished into thin air. On the screen, all that remained was a line of cold text: Your position has been forcibly liquidated.
He slumped in his chair, staring blankly at the ceiling.
The next afternoon, by some twist of fate, Chen Hao opened Binance again. AMP’s price was shown clearly at 0.000783, and it even surged as high as 0.000867. If he hadn’t been liquidated, if he’d just held on for ten more hours, this trade could have made nearly 20,000 U.
He let out a bitter laugh, shut his phone, and remembered the big V’s post from before he entered. The newest comment under it read: “Thanks to the main force for washing the market—I held.”
Chen Hao flipped his phone over and set it face down on the desk. Then he got up and went to the kitchen to cook a bowl of noodles. When the hot water hit, he suddenly recalled the scene from three years ago when he first bought Bitcoin. Back then, he also put in three thousand yuan. He held it for a year and it turned tenfold. Later, he thought the growth was too slow and switched to futures—only to lose it all within a week.
After that, he kept cycling through the path of chasing pumps and selling dumps. Every time he believed this time was different. Every time, the ending was about the same.
When the noodles were done, he ate while scrolling through posts in the forum. Someone shared a screenshot of AMP’s hundredfold gains, and the comments were full of cheers. Chen Hao watched for a few seconds, then quietly exited. He transferred the remaining balance in his futures account back to spot.
Three hundred U—barely anything left.
But he decided that this time he would only buy spot, never touch leverage again. Some lessons really only need to be learned once.
#加密货币 #合约爆仓 #AMP
At 3:17 a.m., Chen Hao’s phone screen glowed, reflected in his bloodshot eyes.
On the Binance futures interface, the price of AMPUSDT was stuck at 0.000500. It had been range-bound for two straight weeks. In the community, people were shouting everywhere about “bottom confirmation” and “about to launch.” Chen Hao scrolled through Twitter, and one big V posted: “AMP is severely undervalued. 0.0005 is the bottom—go long with your eyes closed.”
He took a deep breath and transferred the last three thousand U in his account into the futures account, opening a 50x leveraged long.
“Anyway, it’s already fallen this far. How much lower can it go?” he muttered to himself. His finger hovered over the confirm button for two seconds, then he pressed it anyway.
The moment he opened the position, his heartbeat sped up. The price moved—0.000510, 0.000520—and the floating profit numbers kept jumping. Chen Hao’s mouth curled upward. In his mind, he was already calculating earnings. If it reached 0.0006, he would close the position and make nearly 6,000 U—enough to cover two months’ rent.
But the crypto market never follows the script.
At 4:00 a.m., a big bearish candle slammed down. 0.000510, 0.000505, 0.000500. Chen Hao’s hands started to shake. His margin ratio dropped from 80% to 30%. He wanted to add more margin, but there wasn’t a single cent left in the account.
0.000498.
When the liquidation notice popped up, he didn’t even have time to click anything. The system liquidated automatically—three thousand U vanished into thin air. On the screen, all that remained was a line of cold text: Your position has been forcibly liquidated.
He slumped in his chair, staring blankly at the ceiling.
The next afternoon, by some twist of fate, Chen Hao opened Binance again. AMP’s price was shown clearly at 0.000783, and it even surged as high as 0.000867. If he hadn’t been liquidated, if he’d just held on for ten more hours, this trade could have made nearly 20,000 U.
He let out a bitter laugh, shut his phone, and remembered the big V’s post from before he entered. The newest comment under it read: “Thanks to the main force for washing the market—I held.”
Chen Hao flipped his phone over and set it face down on the desk. Then he got up and went to the kitchen to cook a bowl of noodles. When the hot water hit, he suddenly recalled the scene from three years ago when he first bought Bitcoin. Back then, he also put in three thousand yuan. He held it for a year and it turned tenfold. Later, he thought the growth was too slow and switched to futures—only to lose it all within a week.
After that, he kept cycling through the path of chasing pumps and selling dumps. Every time he believed this time was different. Every time, the ending was about the same.
When the noodles were done, he ate while scrolling through posts in the forum. Someone shared a screenshot of AMP’s hundredfold gains, and the comments were full of cheers. Chen Hao watched for a few seconds, then quietly exited. He transferred the remaining balance in his futures account back to spot.
Three hundred U—barely anything left.
But he decided that this time he would only buy spot, never touch leverage again. Some lessons really only need to be learned once.
#加密货币 #合约爆仓 #AMP