Crypto Address Nets $17.8 Million, Builds $44.6 Million Ether Short

A crypto address beginning 0x15a4 closed Bitcoin and Ether longs for about $17.8 million in net gains, then built an Ether short to 20,000 ETH worth about $44.6 million.

Gross realized profit was about $20.6 million. After funding payments and trading fees, net profit was about $17.8 million. The short’s average entry price was $2,228.12, and the address had not opened a new Bitcoin position.

The address opened a 1,000-BTC long position July 6 at an average of $62,353.65. About 116 days later, it closed the position at an average of $78,181.69, realizing about $15.8 million.

It began its Ether long July 8 and had increased it to 10,000 ETH by July 14, at an overall average cost of $1,761.95. About 114 days after opening the long, it closed at an average of $2,234.54, realizing about $4.7 million.

While the address held the Ether position, ETH reached $2,809.50, about 59.5% above its average cost. The closing price was about 26.8% above that cost.