Ethereum Dip Triggers Million-Dollar Losses for Traders

by

Ethereum (ETH) continued its downward spiral today, wreaking havoc on traders’ portfolios. Million-dollar losses all around. Not pretty.

This nosedive is happening amidst a wider crypto slump. Big-name cryptocurrencies are collectively reeling, and today, Ethereum decided to join the party.

Ethereum’s Market Correction: The Fallout

BeInCrypto Markets has the numbers: ETH has dropped 7.3% since the start of the week. Talk about a ‘correction’-it follows Ethereum’s earlier climb to some multi-year peaks. Hopes dashed, wallets thinned.

Over the past 24 hours, Ethereum’s value dipped by 1.54%. As I write, it’s hovering around $4,166. A decent day for someone who’s already rich-sadly, that’s not the case for most.

Corrections are normal, right? Sure, but for those who put all their faith in this market rallying, it’s been like watching their dreams (and cash) evaporate. CoinGlass data shows a staggering $486.6 million in liquidations over just the past 24 hours.

That means 136,855 traders were caught in the storm, but Ethereum took the hardest hit with $196.8 million in liquidations, of which a hefty $155.15 million came from those who thought ETH would keep soaring.

Then there’s the case of a once-glorious trader who made millions betting long on Ethereum. He turned $125,000 into nearly $30 million, only to see it all crumble after just two days of bad market news. They say fortune favors the bold, but that guy might disagree.

Starting with $125,000, he ended up with a neat $6.86 million in profit before the crash came along and wiped most of it out, leaving him with just $771,000. Ouch.

“From $125,000 to $6.99 million (at one point $43 million). Now? He’s left with chump change: $771,000. Four months of work nearly erased in 48 hours.” – Lookonchain, in a surprisingly judgmental tone.

Then there’s James Wynn, the high-risk trader who tried to turn leverage into a winning strategy. He claimed 19,206.72 USDC in referral rewards and opened a 25x leveraged long position on ETH. Guess what? The market tanked, and his position didn’t hold up. Classic. 🤑

“James Wynn’s ETH long position was partially liquidated, leaving him with 71.6 ETH ($300,000).” Sounds like a victory, right? Just ask him. His idea of a good day clearly differs.

And there’s more-some trader decided it was a good idea to drop a million USDC into Hyperliquid, opening maximum-leverage long positions across ETH, Bitcoin (BTC), and Pump.fun (PUMP). Yeah, that plan didn’t age well. He’s sitting on unrealized losses of over $1 million now. 😅

Institutional Investors: The Only Ones Buying the Dip

While retail traders panic-sell their ETH, some institutional players see this as an opportunity to load up. Bitmine Immersion, the largest publicly traded ETH holder, snapped up 52,475 ETH, pushing their total holdings to a jaw-dropping 1.6 million ETH, worth nearly $6.6 billion. The rich really do get richer.

“SharpLink just bought 143,593 ETH ($667 million) last week, and now they hold 740,760 ETH ($3.19 billion). Together with Bitmine, they added 516,703 ETH ($2.22 billion) in one swoop.” – Lookonchain, doing the math for you.

And for those who thought the whales were staying out of this mess? Wrong. Panic selling is everywhere, too. Looks like everyone’s got a strategy-whether it’s to buy or sell their way into (or out of) ETH.

Whales are panic-selling $ETH as the market plummets!

0x1D8d deposited 17,972 $ETH($77.4M) to #Coinbase an hour ago.

0x5A8E deposited 13,521 $ETH($57.72M) to #Binance in the past 12 minutes.

0x3684 deposited 3,003 $ETH($12.89M) to #Binance 20 minutes ago.…

– Lookonchain (@lookonchain) August 19, 2025

It’s all about making your move when the market goes south. But for most, Ethereum’s long-term future still holds promise-if you’re willing to ride out the storm. For now, at least.

Read More

2025-08-20 08:53