On-Chain Trader longs $30M of ETH

On-chain trader, 0x175, longed $30M worth in ETH just as a trade deal was signed between the UK and the US. The trade was eventually closed for a total profit of $7.96M after fees just three days later. This trader's large position demonstrates significant conviction, timing their entry around major global news. A $30M bet on ETH is a substantial risk, and closing it for nearly $8M in profit in just 72 hours highlights a highly successful and precisely-timed short-term strategy.

The wallet was funded over several days from a variety of exchanges including Binance, BloFin and a suspected ZixiPay address. Since then, the trader has also made a profitable trade on XRP, netting them $690K in profits, while a losing trade on SOL clawed back $331K of their earnings. The trader has continued to deposit into Hyperliquid, now holding $38.3M on the address.

The use of multiple exchanges to fund the wallet is a typical pattern for large-scale traders managing liquidity and entry points. The subsequent mix of profitable and losing trades on different altcoins shows this is not a one-off bet, but rather an active trader managing a portfolio of high-capital positions, with their total balance growing.