Karla Barker 
A crypto trader turned a $24,000 position into roughly $275,000 in less than a month, according to data shared by blockchain tracker Lookonchain on August 26.
The trader, identified by the shortened wallet address 0x3376…8A05, was active on Aster, a decentralized exchange. The positions started small but grew quickly as the broader crypto market snapped out of a long slump. By early Wednesday morning, the trader had withdrawn about $91,000 and still held around $184,000 in the account.
A high-risk bet with 100x leverage
The trade was not for the cautious. The trader used 100x leverage on a mix of Bitcoin, Ethereum, and Chainlink. Those are all well-known cryptocurrencies, but leverage at that level can wipe out an account in minutes if prices move the wrong way. In this case, prices moved sharply in the trader’s favor.
Bitcoin had been under pressure for most of the year. From January 1 to August 16, it fell 26.48%, dropping from $87,412 to $64,269. Then came a sharp reversal. Within the next seven days, Bitcoin climbed almost 22% to $78,401. Ethereum moved even more. It jumped 28.32% in the same stretch, going from $1,916.47 to $2,460.08. Chainlink also rose, from $10.55 on August 19 to $11.36 by August 26.
Still, the annual picture remains mixed. Ethereum is still down about 17% year-to-date. Bitcoin is down roughly 10%. Chainlink’s loss is smaller, around 6.56%, but it has not fully recovered either.
Market-wide rally trims most yearly losses
The recent upswing also lifted the whole crypto market. Total market capitalization had fallen from $2.97 trillion at the start of the year to $2.19 trillion just before the rally. After the move, the overall decline shrank to about $350 billion. That is still a loss, but it is much smaller than before.
It is unclear whether this marks the start of a new bull market. The rally appeared to stall around August 22, and the market has not confirmed a clear direction since then. The trader’s success story may be exciting, but it also shows how quickly leveraged positions can create huge gains or sudden losses. Most traders would not survive a 100x leverage bet, even with a favorable market.
For now, the wallet’s remaining balance sits near $184,000. Whether the trader keeps pushing or cashes out completely remains to be seen.