Trader earns $ 3.7 million in profit on Ethereum transactions

A cryptocurrency trader known as 0xCB92 made an unrealized profit of $ 3.7 million by opening a short position on Ethereum ETH $3,576.81 Bridged Ether (StarkGate) -2.10% Market capitalization $95.7 million VOL. 24 hours $1.9 billion with a leverage of 20x. According to Lookonchain, this high-risk strategy has been implemented over the past three days amid growing volatility in the ETH price.

The position is currently open and the profit has not been realized, as the trader has not yet closed the order. Such high leverage trades indicate that some market participants are willing to take significant risks amid the volatility of the Ethereum price.

As a reminder, in July, a trader lost over $ 26 million in potential profit by closing a position early with a real loss of $ 716 thousand. The incident occurred against the backdrop of sharp market fluctuations: the investor sold crypto assets before their value had increased significantly. In particular, a loss was recorded on a position in tokens, which reached a new price peak a few days after the close.