ICYMI: here's how an April Fools' joke by Kava Network went out of control, with this investor seeing his 40x $KAVA long liquidated Kava Tesla
An anonymous trader who changed his Twitter alias to @kavaisscam unveiled his sad story about his liquidated long. Here's why he had decided to go all in on Kava Network —and almost immediately regretted it 20 minutes later.The trader has taken to Twitter to share the story of his trading experience on April Fools' Day.
Most likely, this announcement was about an alleged collaboration between Kava Network and Tesla electric vehicles giant. As per the screenshots shared on Crypto Twitter, the announcement was marked as a joke 32 minutes after publication.However, the trader decided to open a 40x long on his $8,400 position as KAVA started pumping from the $4.53 level. Then, KAVA spiked to almost $5—and retraced in no time after the announcement was marked as a joke.
The trader who lost his entire portfolio being just one step from a $600,000 profit reiterated that stop-losses should always be used when trading with leverage.
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