In just two weeks, an obscure trader transformed $6,800 into $1.5 million using a sophisticated crypto market-making strategy. This approach, characterized by high-frequency, delta-neutral trading and maker fee rebates, allowed the trader to become a significant liquidity provider on a major perpetual futures platform. By mid-2025, this trader, known for their disciplined strategy, had executed over $20.6 billion in trading volume, representing over 3% of the platform's maker-side flow. The strategy maintained low net delta exposure and avoided major losses, earning the trader the nickname 'liquidity ghost.' The key to success lay in precise execution, tight exposure limits, and a focus on volatility rather than price predictions. The trader's method involved posting only bids or asks, minimizing inventory risk while maximizing efficiency. Despite the impressive returns, the strategy required advanced infrastructure and constant calibration, highlighting the growing complexity of liquidity provision in the crypto market. As the landscape evolves, traders must adapt by optimizing tools and managing risk effectively. Read more AI-generated news on: https://app.chaingpt.org/news

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