Ethereum plunged to $2,900, prompting trader 'Maji Dage' to close a losing long and quickly re-enter the market with a large leveraged position, underscoring extreme risk management.
Ethereum fell to $2,900, leading trader 'Maji Dage' to close a long position at a $738,000 loss. He then entered a new long on 2,200 ETH worth $6.18 million. His account value briefly rebounded to $3 million before dropping to $227,000. This comes after earlier trades netted $1.055 million across three long positions, highlighting high volatility and risk in leveraged crypto trading.