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Over 95% of FOMO traders on the Robinhood Chain have suffered losses or made negligible gains.

Author: TechFlow

Yesterday's Market Updates

Over 95% of Fomo Traders on Robinhood Chain Suffer Losses or Minimal Gains

Since the launch of Robinhood Chain, 95.2% of the 375,740 users trading Meme coins on the FOMO platform have incurred losses or realized gains under $100. Only 229 users profited over $10,000 (0.06%), and 653 users profited over $5,000 (0.17%). This data highlights the highly concentrated nature of returns from these Meme coin trades, with most retail participants failing to achieve significant profits.

Jiang Zhuoer: Closed BTC Short Position, Restored Full Long Exposure to Ethereum Spot

Jiang Zhuoer of LiteBit Mining Pool posted that he previously opened a short position on BTC at $82,050 and has now closed it at $79,480 to take profits. He has restored his full long exposure to Ethereum spot assets awaiting further upside.

His trading rationale includes: market sentiment is currently favorable, with Ethereum rising to $2,536 in the morning session, nearing the previous high of $2,547; Ethereum acts as the engine of this bull run rather than a follower, meaning its early strength could signal Bitcoin following suit. Additionally, spot ETFs continued seeing inflows on September 3-4, recording a record $730 million on September 3. Given this trend, shorting remains the only viable strategy until ETFs switch to sustained outflows.