Ethereum Goes All In While Rising, Makes $71 Million Profit in One Month! - Coin Bulletin

A savvy investor who took advantage of the fluctuations in Ethereum price made over $50 million in profit with a massive short trade on the Hyperliquid platform.

According to HypurrScan, the wallet at address 0x20…44f5 has been shorting ETH with 50x leverage at an average price of 3,388 dollars since the second half of January.

This aggressive trade not only benefited the investor from the price drop but also provided an additional gain of funding rates of 2.38 million dollars. With a total position of 137 million dollars, the investor's liquidation price is at 4,646 dollars.

The wallet in question had incurred losses during the time when the Ethereum price rose to around 3,700 levels, but it had continuously added to its positions from those levels. The investor, who had turned back to profit later, continued to add to their positions even as the price retreated. They had initially increased their position from around 50 million dollars to 140 million.

Despite the Ethereum price reaching $2,200 levels, the wallet owner did not make any changes in their position, even though they made a profit of $71 million.

According to Resolv's official website, the large short position on Hyperliquid is owned by Resolv, which indicates that this is not a naked short transaction, but rather a delta neutral strategy. The Delta neutral strategy is an investment strategy created to be insensitive to price changes(neutral), with the aim of making a profit without being affected by movements in an asset's price.