According to TechFlow, an intriguing trading story has captured the attention of the crypto community. A trader operating under the address 0x2258 has reportedly earned approximately $5.6 million over the past three days by consistently countering the trading strategy of prominent trader James Wynn. The insights were shared by the on-chain analytics platform Lookonchain.
On May 24, James Wynn took a long position on $BTC Bitcoin. In response, the trader 0x2258 took the opposite stance, shorting both Bitcoin and$ETH Ethereum. This strategy paid off, as the trader closed the position on May 25 with a notable profit of $1.36 million.
The trend continued as James Wynn shifted to a short position. The trader countered again by going long on both assets, securing a profit of $2.54 million upon closing the position on May 26.
The latest round of counter-trading against Wynn’s positions has resulted in an unrealized gain of approximately $1.7 million, pushing the total profits close to $5.6 million over the three-day period.
This story has sparked conversations in the trading community about the importance of understanding market sentiment, the role of on-chain analytics, and the potential risks of publicizing trading strategies.
As always, traders are advised to conduct thorough research and exercise caution when engaging in market speculation.
