One of crypto’s most talked-about traders saw fortunes swing violently this week after Ethereum’s price briefly slipped toward $4,000.
The trader, who had grown a $125,000 stake into more than $43 million in just four months, was hit with a massive liquidation on decentralized exchange Hyperliquid.
As ETH plunged, $6.2 million was wiped out, leaving the account with barely $770,000 — almost all of the meteoric gains gone in just two days. Blockchain tracker Lookonchain flagged the event, calling it one of the most dramatic reversals in recent memory.
Other high-profile traders also felt the squeeze. Leveraged investor James Wynn, long known for aggressive Ethereum positions, saw his holdings slashed as well. Wynn admitted afterward that he had gone “all in” and would now have to cut back living expenses if the long-awaited altcoin season doesn’t materialize.
The sudden downturn also spurred large whales into action. Several dumped positions, unloading a combined $147 million worth of Ether. Yet not everyone panicked.
Data from Nansen shows opportunistic buyers stepping in, with some top traders snapping up multi-million-dollar sums of ETH at discounted levels. Even the notorious Radiant Capital exploiter’s wallet reportedly accumulated over $16 million worth during the dip.
Markets are now looking beyond the chaos and toward Friday’s Jackson Hole address from Federal Reserve Chair Jerome Powell. Analysts at Nexo argue that the next big move in crypto may depend less on chart patterns and more on signals from the Fed about interest rates and monetary policy.
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Source: https://coindoo.com/trader-turns-125k-into-43m-nearly-loses-it-all-in-eth-crash/