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Ethereum trader earns 16 million USD as ETH price falls to 3,000 USD

A cryptocurrency trader successfully leveraged their position in Ethereum, generating 15.7 million USD in profits as ETH dropped to 3,388 USD. However, leveraged trading carries significant risks, as shown by another trader who lost 161,000 USD after being liquidated.

Ether’s price recently fell below 3,100 USD, reflecting market volatility. Analysts suggest increased blockchain activity is crucial for Ethereum to recover and regain market strength, as other layer-1 solutions are emerging.

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