Cryptocurrency investors, particularly those who held leveraged positions, experienced a nightmare scenario yesterday. While the market’s decline appears to have stabilized for now, the full extent of the damage is becoming clearer today.

Yesterday’s market plunge resulted in mass liquidations, with total liquidations reaching close to $1 billion and the number of liquidated traders surpassing 300 million. One of these unfortunate traders has made headlines today.

A crypto trader known as Crypto Nerd was liquidated on his long position in the meme coin PEPE yesterday. Having lost over $1 million in total, the trader revealed that he was left with barely $1,000 in his bank account:

“I just woke up and realized I got liquidated overnight. I was long PEPE with 3x leverage. I lost everything I had. I don’t even have $1000 in my bank account but I had $1 million on Binance. I’ve been in crypto since 2017 and today I lost everything.”

The trader, who claimed to have no life outside of crypto, expressed being on the verge of suicide.

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