@EmberCN reported a Hyperdash address that opened $5.42 million and $4.97 million long positions in SOXL within four hours, both liquidated for combined losses of $586,000 before a third $2.22 million long was opened.

TQQQ and SOXL attract degen traders who buy low on inflows and sell high on outflows, treating the leveraged ETFs like an ATM machine.

Orderly lists SPY, SOXL, QQQ, EWY and SNDK RWA perps via permissionless markets on its perp DEX.