A crypto trader lost $1.98 million on KAITO long bet after the token's price plummeted over 27% in just seven days.
The trader, who closed a long position for 6,065,626 KAITO amid bullish exhaustion earlier last week, exited the trade as the token traded at about $0.6693 on Monday.
This loss is in addition to fees paid of around $4,083, bringing the total to $1,982,938 over a period of 192 hours.
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