Trader Bets $59M on Ethereum Ahead of CPI, Makes $1.2M in Hours

A newly created wallet (0xa2e8) entered the market shortly before the U.S. CPI data release and opened a highly leveraged Ethereum position. The trader took a 20x long on 36,826 ETH, with the position valued at approximately $59.72 million at the time.

As the economic announcement triggered market volatility, the position remained active throughout the price swings. After roughly two hours, it was fully closed out.

The quick closing of the trade resulted in a profit of around $1.2 million from the short-duration, high-risk position.

Source: Lookonchain