Karla Barker 
On-chain data from Lookonchain shows that a trader using the shortened wallet designation 0x3376…8A05 turned roughly $24,000 into $275,000 in less than a month. The positions were opened on Aster, a decentralized exchange, and involved Bitcoin, Ethereum, and Chainlink. According to the tracker, the trader had withdrawn about $91,000 by early Wednesday morning, leaving around $184,000 still in play.
The trade was far from safe. It used 100x leverage. In crypto, that level of leverage can wipe out an account on a small price move. That did not happen here. Instead, the market turned in the trader’s favor.
A sharp reversal after months of decline
The big gain followed a sudden shift in crypto prices. Between January 1 and August 16, Bitcoin fell 26.48% from $87,412 to $64,269. Then, in about seven days, it jumped 21.96% to $78,401. Ethereum did something similar, climbing 28.32% from $1,916.47 to $2,460.08 in the same period. That move was notable because Ethereum had already started recovering in June.
Chainlink followed a comparable path. It went from $10.55 on August 19 to $11.36 at press time on August 26. Still, all three assets remain in the red for the year. At the time of reporting, Ethereum was down 17.09% year-to-date, Bitcoin was down 10.31%, and Chainlink had a smaller loss of 6.56%.
Market-wide impact
The broader crypto market also felt the shift. Total market capitalization had dropped from $2.97 trillion at the start of the year to $2.19 trillion just before the rally. By press time, that yearly decline had narrowed to roughly $350 billion. That is a meaningful recovery, but not a full one.
The rally appears to have stalled around August 22. Because of that, it is too early to say whether this is the beginning of a new bull market. The trader’s 11x return is real, but it came with a high level of risk. Leverage cuts both ways. Many traders using 100x leverage on similar positions would have been liquidated before the market turned.
It is worth noting that this is one public wallet address, not a full picture of what happened. On-chain data can be incomplete. Still, the numbers shared by Lookonchain offer a clear example of how quickly things can change in crypto, especially when leverage is involved.