Here is How a Trader Made Over $29M Profit on Hyperliquid in Less Than 2 Months

An anonymous trader recently made over $29 million profit on the decentralized exchange (DEX) Hyperliquid. According to Lookonchain, the trader with wallet address 0x15b3 earned this massive gain in less than two months.

A Strategy That Paid Off Big

On-chain data revealed that the trader created a new wallet and deposited $2.95 million USDC into Hyperliquid. With the capital, they opened long positions on 16 assets including Ethereum (ETH), Solana (SOL), Bitcoin (BTC), and Litecoin (LTC).

As seen on the three-month price chart, bitcoin’s market value dropped below $75K at that time. The trader then entered long positions right at that dip, betting that BTC and the other assets would recover.

The combined unrealized profit currently sits at over $29 million with ETH bringing in more than $10 million at a 592% ROI. Other significant profits include $3.45 million on SOL, $2.44 million on HYPE and $2.07 million on BTC.

By carefully selecting their entries, the trader leveraged several market moves. Their positions were strategically timed to capitalize on short-term pumps and recoveries.

Although the trader currently holds open positions that have gained more than $29 million in value, they are termed “unrealized”. This is because the profits are unsecured as the assets are yet to be sold.

So far, the total profit stands at $29.76 million, all earned within less than two months. This market activity has drawn attention for the amount made in Hyperliquid’s liquidity pool.

Traders Capitalize on Market Potential

In a market where huge unrealized profits reflect the potential of open trades, some investors are locking in big gains quickly. A recent CoinTab report revealed how a trader made $5.6 million in BTC moves in three days.

In another news report, one trader made a $2.1 million profit in just one week by investing in Hyperliquid. By capitalizing on the tools on Hyperliquid, traders can quickly enter and exit positions to lock in profits. 

At the time of writing, the DEX’s native token HYPE trades at approximately $31.73, representing a 0.6% price gain in the last seven days.

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