Ethereum’s been strutting its stuff, climbing nearly 6% in the last 24 hours — like it suddenly remembered it’s supposed to be valuable or something. Naturally, traders rushed back in like it was the clearance sale of the decade, pumping trading volume up 18%. Thanks, CoinMarketCap, for the tea.
Our star of the chaos? A trader embodying what Lookonchain—yes, the all-seeing on-chain watchdog—calls “peak FOMO behavior.” Imagine a squirrel on espresso, buying and selling Ethereum as if it were a hot potato. Spoiler: not the smartest move.
Six months ago, they went all in, scooping up a glorious 1,805 ETH coins at $3,559 each. Total damage: a casual $6.42 million. Then came the price nosedive, sandwiched with some serious holding on for dear life (aka HODLing). Fast forward to just two weeks ago, our hero decided to chuck the lot out the window.
Plot twist: they sold low, losing about $3.6 million — because why not? Exactly when they did this sad sale, ETH couldn’t resist a cheeky little bounce back up.
But wait, there’s more! Our brave trader returned, wallet slightly lighter but spirit unbroken, buying back 1,734 ETH at $1,792 a pop. Translation: they bought high, sold low, then bought even higher. Lookonchain summarized this masterpiece as “buy high, sell low, then buy back even higher,” which is basically crypto’s version of running into a burning building twice.
Meanwhile, some other mysterious wallet decided to borrow 15,000 ETH (~$24.9 million) from Aave, then casually upped their game borrowing another 35,754 ETH (~$64.13 million) and flipping all of it within three hours. Because who needs nerves, right?
So, ETH is lingering around $1,792, riding a 13% surge in the last week and flaunting a 5.96% bump in market cap like it’s won the lottery. Meanwhile, traders keep doing gods-only-know-what, and we’re all just here for the ride. 🍿
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2025-04-23 22:02