US day traders are piling into perpetual futures contracts offering up to 100x leverage, despite data showing 70-97% of day traders lose money over time.

US day traders are piling into perpetual futures contracts offering up to 100x leverage, despite data showing 70-97% of day traders lose money over time.

On certain corners of TikTok, baby-faced investors flaunt the sports cars and villas they claim to have bought with their winnings on highly leveraged “perps”.