A certain trader once turned $1,000 into $57.8 million. It sounds like a gambling story, but it has indeed happened in the crypto market. To compare with another classic case: a trader turned 20 RMB into 37 million, illustrating that extreme gains often come with extreme risks.

Ethereum's 3340 level was once considered a key support. The trader positioned for a long here, reasoning that the market maker wouldn't let large traders get liquidated. Setting a liquidation price at 3240 and keeping $500 as margin buffer, they could withstand a dip to 3220. The core idea is: if the price rises directly to 3600 without a dip, the profit potential is huge; if it does dip, the leveraged position still has room to survive.

Subsequently, the market showed a baiting decline, trapping some short sellers. After a unilateral upward move started, the trader chose to add 20% more to their position. This kind of averaging-up strategy can amplify gains when the trend confirms, but it also increases risk. Ultimately, after Ethereum broke through the short positions, the market rose as expected.

The key takeaway from this case: extreme leverage trading can indeed lead to huge profits, but it also means that a single misjudgment can wipe out everything. The price of 3290 ultimately did not hit the stop-loss, indicating that market expectations overcame the risk setup. Regardless of the outcome, this is the most straightforward reflection of risk and reward in the crypto trading market.