Big news in the world of cryptocurrency! A super-rich crypto trader, called a 'whale,' lost a HUGE amount of money – over $308 million! This happened because they used borrowed money to bet on Ether (ETH), a type of cryptocurrency like Bitcoin.
- The trader bet big on Ether's price going up, but it went down instead.
- This is called 'leveraged trading,' and it's very risky because losses can be much bigger than regular investments.
- The trader lost so much because they borrowed a lot of money to make their bet.
- Ether's price has been falling, partly due to worries about the economy and fewer new projects using the Ethereum network.
| Fact | Number |
|---|---|
| Amount lost by the trader | $308 million |
| Amount of Ether lost | 160,234 ETH |
| Ether's price when the trader's bet failed | Around $1,877 |
| Possible future Ether price (prediction) | $1,800 |
