Ethereum Trading Strategy Faces Challenges Amid Price Fluctuations

According to PANews, blockchain analyst Yu Jin has reported that Huang Licheng, known as Maji, has seen his profits from a leveraged Ethereum (ETH) trading strategy largely diminish. Initially, Maji invested $500,000 to go long on ETH starting at $2,840. When ETH prices rose to $3,200 two days ago, his investment grew to $3.34 million. However, the strategy also increased the liquidation price to $3,000. Early today, ETH prices fell below $3,000, resulting in two liquidations. Consequently, the position's value dropped from $3.34 million to $730,000, with profits nearly wiped out. The remaining position is now just $42 away from the liquidation price.