Coinspeaker Ethereum Shorter Scores Massive $1.1M Win in Just 2 Days
A crypto trader recently pocketed over $1.1 million in just two days by executing a short, high-stakes position on Ether (ETH). The position, opened on December 24, involved a massive 50x leverage, allowing the trader to short 19,186 Ether—worth over $64.5 million at the time Ether was trading at $3,428, according to blockchain data from Hypurrscan.
On-chain analytics platform Lookonchain revealed that despite the initial position showing a loss of $1.2 million on its first day, the tides turned dramatically, rewarding the trader with not only substantial unrealized profits but also $680,000 in funding fees. The short position’s liquidation price was set above $4,750, indicating the high-risk nature of the trade.
Source: hypurrscan While such trades can yield extraordinary returns, they also carry immense risk. Leveraged trading often magnifies losses, as evidenced by a trader in January 2024 who lost $161,000 on a single overleveraged position.
Hey @rafal_zaorski can I get a small loan of 100k$ I promise to give it back with interest in less than 3-6 months 😭
— Tarded Degen Gambler (@0xTDG) January 4, 2024 2024 Payoffs Big Crypto’s Wins
2024 has witnessed a mix of high-stakes trades and significant milestones in the cryptocurrency market. Bitcoin crossed the $100,000 threshold on December 6, marking a historic moment for the leading cryptocurrency. Alongside, traders have capitalized on the meteoric rise of memecoins like Pepe (PEPE), where one investor turned $27 into $52 million over 600 days.
Earlier in May, another trader made headlines by transforming a $3,000 investment into $46 million, riding the surge in Pepe’s valuation. These success stories underscore crypto investments’ unpredictable nature, which can lead to windfall profits or catastrophic losses.
Ethereum at Historic Cycle — Q1 2025 Rally Coming?
Historically, Ethereum has demonstrated significant rallies following Bitcoin halving events. For instance, in Q1 2021, Ether soared over 300% in just three months, outperforming Bitcoin. Similarly, early 2017 saw a remarkable 900% rise, attributed to growing enthusiasm around decentralized finance and NFTs.
Despite these promising patterns, Ethereum currently lacks a clear bullish catalyst. While its average Q1 returns stand at an impressive 90%, skepticism persists regarding its ability to replicate past performance. Investors like James Fickel, who bet heavily on Ethereum outperforming Bitcoin, suffered substantial losses, with 49 million wiped out this year.
Ethereum, however, has struggled to keep pace with its peers. This year, the ETH/BTC pair has slumped by 35%, reflecting waning investor confidence in the altcoin.
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Ethereum Shorter Scores Massive $1.1M Win in Just 2 Days
