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Web 3 Journalist
Tim Hakki
Web 3 Journalist
Tim Hakki
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In a high-stakes trading maneuver, a mysterious crypto trader on the decentralized exchange Hyperliquid turned $5.6 million into a massive market position, raising suspicions of potential insider trading.
Using 50x leverage, a trader opened a massive $200 million long position on Bitcoin and Ethereum just hours before Trump posted about a strategic crypto reserve that would include BTC and ETH.
The high-risk strategy quickly drew attention from blockchain analysts, especially as Ethereum’s price dipped before the announcement, bringing the position close to liquidation.
A further $54 drop in ETH could have triggered losses exceeding $2 million.
At 3 p.m. UTC on Sunday, Trump announced on his alt-X microblogging platform Truth Social, that he was establishing a US strategic reserve for crypto, in line with the crypto Executive Order he’d signed in his first week of office.
The statement triggered a major market rally, with Bitcoin and Ethereum surging, allowing the Hyperliquid trader to exit with $7 million in profits within 24 hours.
Shortly after, Trump confirmed that Bitcoin and Ethereum would be part of the reserve, driving prices even higher. He also named XRP, Solana, and Cardano as additional digital assets to be included.
Bitcoin has jumped 9% in 24 hours, while Cardano, one of the tokens mentioned by Trump, is soaring 50%, outperforming both Bitcoin and Ethereum in intraday gains.
Given this massive upside, the Hyperliquid trader may be second-guessing their exit, realizing they could have secured even greater returns.
For those looking to stay ahead in the fast-moving crypto market, having the right tools and insights is key to seizing opportunities.
Best Wallet helps every crypto trader get ahead of the game
The above story is indicative of how uneven crypto’s playing field is for many traders. Given the fact the trade was placed before the announcement, some might call it a sign of market manipulation.
However, crypto has always had an egalitarian ethos behind its founding philosophy of decentralization.
Nowadays, there are several cutting-edge new projects on hand to help everyone in retail get ahead of the whales.
One such project that has just launched its own presale is Best Wallet and its native utility token, $BEST.
Positioned as a next-generation cryptocurrency wallet, analysts suggest it could challenge industry giants like Trust Wallet and MetaMask.
More than just a self-custody solution, Best Wallet offers a full suite of investor-friendly tools designed to help every crypto trader, from newbies to whale, stay ahead in an evolving market.
Much of talk surrounding Best Wallet centres on its “Upcoming Tokens” tool, which selects the most promising crypto projects, often while still at presale, enabling Best Wallet users to make moves before everyone else.
Additionally, it highlights all the most rewarding staking opportunities to optimize the earning potential of your portfolio.
The Best Wallet app is on Google Play and the Apple Store and currently supports over 1,000 cryptocurrencies. It utilizes Fireblocks’ MPC-CMP encryption to keep user assets safe.
$BEST is currently $0.0242, but this will rise by a fraction as the presale progresses through to the next round in a little over 24 hours.
All things considered, it’s no surprise that investors have poured $10.7 million into Best Wallet’s $BEST token presale to date.
Follow Best Wallet on X and Telegram.
