Ethereum Trader Loses $3.36 Million After Liquidation

A significant loss for an Ethereum trader, identified as ‘Maji Dage’, highlights the volatility of crypto markets. According to on-chain analyst Yu Jin, after a liquidation event that saw their long position liquidated, the trader redeployed $220,000 at a price point of $3,052. However, when Ethereum’s value fell below $3,000, the position was again liquidated, resulting in an immense loss of $3.36 million. The trader’s initial capital of $3.437 million has been reduced to just $47,000 after this incident.