Crypto trader earns $2M in 50 mins with monster insider trade
As the cryptocurrency markets continue to hemorrhage capital, one whale investor has once again turned the current volatility into a multimillion-dollar payday in minutes. Specifically, the unidentified whale...
As the cryptocurrency markets continue to hemorrhage capital, one whale investor has once again turned the current volatility into a multimillion-dollar payday in minutes.
Specifically, the unidentified whale pocketed $2.15 million in just 50 minutes by leveraging a high-risk, high-reward approach, according to data shared by crypto on-chain analytics platform Lookonchain on March 10.
The trade details indicate that the trader executed a well-timed long position on Ethereum (ETH) using 50x leverage. In about 50 minutes, they sold 947 ETH for $1.95 million USDC and immediately deposited the funds into Hyperliquid, a decentralized derivatives exchange.
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They leveraged their capital to open a long position worth $53.7 million, accumulating 25,094 ETH with a liquidation price of $1,991.70.
As Ethereum briefly surged to $2,140.60, the whale swiftly closed the position, securing a $2.15 million profit before the market shifted.
This precise execution is not an isolated event, and the whale’s recent transactions have raised questions regarding the possibility of using insider information.
Crypto reserve insider trading
As reported by Finbold on March 2, the same trader previously went long on Bitcoin (BTC) and Ethereum with 50x leverage, raking in over $6.8 million in just one day.
That winning streak coincided with key market events, including President Donald Trump’s executive order establishing a cryptocurrency strategic reserve entailing Bitcoin, Ethereum, XRP, Solana (SOL), and Cardano (ADA)
Leveraged positions allow traders to borrow funds to control a much larger stake than their initial capital, amplifying potential gains and risks.
It’s worth noting that the reserve’s declaration and the subsequent White House’s first-ever cryptocurrency summit have failed to ignite investor enthusiasm. Both Bitcoin and Ethereum largely remain subdued, struggling to maintain their valuations above key support levels.
As of press time, Bitcoin had reclaimed the $80,000 mark, trading at $80,035, reflecting a daily drop of over 4%. Over the past week, the leading cryptocurrency is down 11%.
Meanwhile, Ethereum is also fighting to avoid dropping below the $2,000 spot, which is crucial for any potential upside rally. The second-ranked digital currency by market cap is currently valued at $2,023.11, down 4% in the past 24 hours.
Despite market volatility, the whale’s massive returns highlight that opportunities still exist, especially for traders who time the market well.
Featured image via Shutterstock
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