Cryptocurrency trader earned a record $ 7 million per day on BTC and ETH

An unidentified crypto trader made almost $ 7 million in just 24 hours using long positions in Bitcoin BTC $76,850.98 Mezo Wrapped BTC -0.08% Market capitalization $75.63 million VOL. 24 hours $1.16 billion and Ethereum ETH $2,105.20 Bridged Ether (StarkGate) -0.16% Market capitalization $37.46 million VOL. 24 hours $0.66 billion . He opened trades on the decentralized Hyperliquid platform ahead of Donald Trump’s announcement of the creation of a US strategic crypto reserve.

According to Lookonchain, the trader deposited almost 6 million USDC and used 50x leverage, which allowed him to build a total position of more than $ 200 million. His long on Ethereum was opened at $ 2197 with a potential liquidation if it fell to $ 2149. For bitcoin, this level was $ 84,752.

The risk of losing money arose on the morning of March 2, when the price of Ethereum dropped. If the asset had fallen by another $ 54, the trader could have lost more than $ 2 million. However, he managed to avoid liquidation and make a significant profit.

Interestingly, he closed his positions even before Trump released a specific list of cryptocurrencies for the strategic reserve. If the trader had held the trades longer, his profit could have been even higher.

Earlier, another investor had a similar success, earning $ 1.1 million on Ethereum’s fall. This proves that, despite the high risks, choosing the right moment to enter and exit the market can bring significant profits even in a short time.