According to data from the blockchain tracking tool Lookonchain, this trader's ETH strategy is "almost perfect."
In the past 30 days, 0xcB92 has continuously bought ETH near local bottoms, closing positions just before sharp price drops and returning to short positions at the peaks — a rare combination of timing and execution.
As of yesterday, the trader's unrealized profits had reached $12 million, but instead of closing, he maintained his position. After another price drop of Ethereum, those unrealized profits skyrocketed to over $14.8 million.
The trader's total profit from these Ethereum moves has now exceeded $20 million, fueling speculation and admiration on social media. Analysts suggest that tracking wallets like 0xcB92 may provide insights into strategies that are rarely executed so accurately in market timing.
With the increasing price volatility of Ethereum, all attention is focused on this wallet as traders seek to decipher the next move from one of the sharpest ETH players currently active on-chain.