finance
Blockchain Data Shows Trader Profited $2.27 Million from APE Long and Short Trades in One Day
A trader generated $2.27 million in profit from trading APE cryptocurrency within a single day, according to blockchain data. The strategy involved opening a long position before a price increase and then switching to a short position. @lookonchain reported the wallet activities based on on-chain information.
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A trader executed long and short positions on the APE cryptocurrency, resulting in a total profit of $2.27 million over one day, @lookonchain reported based on blockchain data. The trader first opened a long position ahead of a price surge in APE. This long trade yielded $1.79 million in profit, according to the data.
After closing the long position, the trader immediately opened a short position on APE. The short position generated $488,000 in profit during price fluctuations. @lookonchain stated that the trades achieved a 14x return on investment, with the rapid shift occurring amid the token's volatility.
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