CoreWeave experiences severe "wash trading" during earnings window, with 122 on-chain accounts exiting at a loss.

BlockBeats news, November 11 — CoreWeave's third-quarter revenue reached $3.661 billion, up about 168% year-over-year, and the company raised its full-year revenue guidance to $13 billion to $13.3 billion. However, the company still posted a net loss of $709 million for the quarter and expects fourth-quarter interest expenses to reach $1.05 billion to $1.15 billion.

This mix of good and bad macro data directly triggered a massive market shock, with the CRWV contract on Hyperliquid experiencing violent swings: the price first surged from $49.23 before the announcement to $54, then plunged sharply to $46.60 at 06:22, with a maximum drawdown of about 13.7%;

After the sell-off, it rebounded quickly, reaching a high of $55.61. As of press time, the mark price is $55.07, rebounding about 18.2% from the low.

During this "V-shaped reversal" rebound window, countless traders were shaken out of the market.

Data shows that during the period of violent volatility (from the 06:22 low to press time), a total of 477 addresses participated in CRWV trading, of which at least 122 addresses recorded losses and had cleared all CRWV positions.

The largest loss was recorded by an address starting with 0x4270, which sold about $352,000 worth of CRWV long positions at an average price of $50.22, for a net loss of about $8,083.

At the same time, some traders completed short-term profits. An address starting with 0xe1d39 bought and sold CRWV multiple times during the volatility, accumulating about $990,000 in buys and about $1.01 million in sells, with an average buy price of $51.29 and an average sell price of $52.43. It ultimately cleared its position and realized a profit of about $21,800.