Trader Loses $3.24M FOMO-Longing ETH at the Peak

Source: Coinomedia Original Title: Trader Loses $3.24M FOMO-Longing ETH at the Peak Original Link:

Overview

• Trader lost $3.24M chasing ETH longs at the peak
• Closed part of the position with $583.5K loss
• Still holds $37.6M in ETH with $2.66M unrealized loss

The crypto market witnessed another costly lesson in emotional trading. A trader, identified by wallet address 0xa43d, opened a massive long position in Ethereum (ETH) just 14 hours ago — right at the market top. The timing couldn’t have been worse, and the price action since then has proven punishing.

As Ethereum started its downward correction, the trader attempted damage control. Three hours ago, they closed a portion of the position, crystallizing a loss of $583,500. Despite this, the larger part of the trade remains open — and deep in the red.

$2.66M Unrealized Loss Still on the Books

The trader still holds 11,793 ETH, valued at $37.6 million, locked in a long position. As the price of ETH continues to move against the trade, the unrealized losses have ballooned to $2.66 million.

This incident underscores the high risk of FOMO-driven trading strategies, particularly when entering large leveraged positions at local tops. While crypto markets can offer lucrative opportunities, poor timing and emotional decisions can lead to devastating losses — fast.

Please don’t FOMO trade. In just 14 hours, trader 0xa43d has lost $3.24M by FOMO-chasing ETH longs at the top. 14 hours ago, he opened a long right at the peak. As ETH dropped, he partially closed 3 hours ago, taking a $583.5K loss. He still holds 11,793 ETH ($37.6M) long with significant unrealized losses.

Lessons from the Market Top

This case serves as a reminder to retail and institutional traders alike: discipline and timing matter. Jumping into a position during hype or volatility can backfire spectacularly, especially in the highly reactive crypto market.

Whether the trader chooses to hold or cut losses, the trade already stands as a costly reminder of the dangers of FOMO trading during ETH rallies.