Ethereum's recent market turbulence saw its price drop to a multi-month low, leaving many investors in losses.
However, one trader turned this downturn into a massive profit, earning $2.15 million in just 50 minutes. Their strategy? A bold, high-risk leveraged trade that capitalized on ETH’s rebound.
This trader initially sold 947 ETH for $1.95 million in USDC before depositing the funds into Hyperliquid, a decentralized perpetual trading platform. Instead of holding the stablecoins, they immediately opened a 50x leveraged long position on ETH, effectively turning their stake into a $53.7 million position.
With a liquidation price set at $2,008, the trade hinged on a swift price recovery. When Ethereum rebounded shortly after, the trader exited the position with a staggering $2.15 million profit—all within less than an hour.
Such an aggressive strategy carried enormous risk. Had Ethereum’s price dropped further, the trader would have lost the entire $1.95 million investment.
Recent trading data shows a clear tilt toward optimism among Binance users when it comes to XRP.
The U.S. Securities and Exchange Commission (SEC) is taking additional time to evaluate a proposal that would allow Grayscale to integrate Ethereum staking into its spot ETF offerings.
Canada is once again taking the global lead in crypto innovation—this time with Solana.
Crypto markets have been treading water lately, but a bold prediction from TRON founder Justin Sun has stirred some excitement.