The crypto market was thoroughly shaken up last week when the prices of assets in the space crashed rapidly. As a result, over 170,000 traders lost their positions, amounting to more than $1 billion in losses. However, not all crypto traders suffered due to the crash as one GMX whale trader made almost 7-figures in profit. On a closer look, the whale seems to be on a streak with an impressive 80% win rate over the last two months.
GMX Whale Trader Makes Almost $1 Million
When the crypto market crashed last week and the price of Ethereum fell from above $1,800 to below $1,600, most of the market was caught aware. But one GMX whale trader was properly positioned to profit from such a crash and they were rewarded handsomely for their foresight.
By the time the crash rolled around, the crypto whale already had a $9.5 million Ethereum short position opened at a price of $1,962. The whale held on to this position and as soon as the…
