Key Highlights
- A low-profile trader turned $7M in profits by aggressively shorting ETH and ENA, proving big wins don’t always come with big online followings.
- Most of the wallet’s activity flows through Binance, with rising deposits over five years pointing to a long-term, disciplined trading strategy.
- Heavy leverage drove outsized gains, but recent $223M market liquidations show how risky and fast-moving these trades can be.
An unknown crypto trader has turned heads by racking up $7 million in profits through aggressive short positions. The Ethereum-focused wallet, identified as 0x58bro, holds assets worth roughly $12.9 million, according to blockchain intelligence firm Arkham.
The trader managed to make headlines by shorting several prominent tokens, such as Ethereum (ETH) and Ethena (ENA).
According to Arkham, 0x58bro made $3.7 million on ETH shorts and $1.45 million on ENA. The wallet’s portfolio is dominated by wrapped Ethereum tokens, with AETHWETH valued at $7.5 million and AETHUSDC at $5 million. Other smaller holdings include HANA ($352K), BNB ($2.1K), and ETH ($1K), along with just over 800 USDC.
Aggressive trading across exchanges
The transaction history shows that Binance is responsible for 98% of the exchange transactions of the wallet, with very little activity on Gate and Deribit. The deposits and withdrawals have been increasing steadily over the past five years, which is an indication of continued engagement with the wallet and not just periodic trading.
Additionally, the wallet has recently sent $3 million of USDC to Binance and close to $3 million of AETHUS in an 18-hour period. The trader’s portfolio management approach prioritizes Ethereum-based assets while keeping stablecoin liquidity. “He only has 1.3K followers, but he’s made $7M shorting everything,” Arkham tweeted, pointing out the size of the wallet despite the lack of publicity.
Leveraged positions and market activity
On-chain data shows that 0x58bro takes big, risky bets using heavy leverage. One short on 5,150 ETH brought in over $3.75 million in profit. That single trade delivered a 670.9% return. Besides that, he also made money from a leveraged Bitcoin trade and a strong Litecoin position. Moreover, smaller coins like ENA and HYPE added to his gains. This mix shows how he uses fast price swings to his advantage.
Meanwhile, Ethereum being one of the tokens making one of the largest profits for the trader was trading near $1,973 after a small drop in the past day, as per CoinMarketCap. Ethena on the other hand, holds close to $0.1208 with a slight gain.
Trading activity on Ethereum is a bit steady, which signals ongoing interest. Besides, prices cluster shown by Arkham screenshots tightly around $1,986. Hence, buyers and sellers stay active at that level. This setup shows strong liquidity and quick price reactions.
Market liquidations highlight risks
According to the latest data from CoinGlass, there have been $223.38 million in crypto liquidations in the last 24 hours. Long liquidations stood at $145 million, and short liquidations at $78.37 million. Bitcoin topped the list with $94.52 million in liquidations, followed by Ethereum with $52.02 million. The largest position of $11.21 million in BTC-USD was liquidated on Hyperliquid.
0x58bro shows how risky but rewarding crypto trading can be. Big bets and heavy leverage can bring huge profits, but prices can swing fast.
Also Read: Monero On-Chain Activity Remains Strong Despite Delistings
