In these days when the giants in the cryptocurrency market are throwing in the towel one by one and billion-dollar portfolios are melting down, a mysterious investor using the pseudonym 0x58bro rowed against the current and reached a profit of 7 million dollars. In this critical period, when the Ethereum price fell to the $ 2,000 limit, internal Blockchain data shows that the anonymous whale increased his wealth with well-timed short selling moves. This strategic success, reflected in Arkham data, represents a new power that is quietly rising at a time when the most popular names in the market are experiencing a liquidation nightmare.
The Fall of Giants and Strategic Choices
The sharp decline in the market caught not only individual investors but also the most established institutions and phenomena of the sector unprepared. Trend Research, led by Liquid Capital’s founder Jack Yi, had to exit the Ethereum positions it entered with the expectation of a price of 10 thousand dollars, losing 869 million dollars. Similarly, Jeffrey Huang, known as “Machi Big Brother” in the market, faced a loss of $28 million due to his erroneous predictions on Hyperliquid. While these names used treasury funds dating back years to cover their collateral gaps, the use of high leverage throughout the market brought about great destruction.
In the midst of this chaos, 0x58bro, which has only 1,300 followers, managed to profit from the price drop, unlike the giants. The investor, who concentrated the majority of his portfolio on Ethereum and Ethena Labs’ governance token ENA, did not base his strategy solely on sales. By keeping more than $12.5 million of its balance in interest-bearing assets on Aave, it was able to generate cash flow while maintaining liquidity flexibility for new opportunities in the market. The investor’s only risky move was the HANA token position worth 353 thousand dollars.
Smart Money and Long-Term Prospects
This sharp separation in the market also reveals the behavior of wallets called “smart money”. According to CryptoQuant data, in addition to those profiting from short-term declines such as 0x58bro, there are also “accumulation addresses” that hold at least 100 ETH and never exit. These addresses continue to buy even if the price remains below their costs, controlling 23% of the circulating supply. While corporate giants are withdrawing from the market with billions of dollars in losses, this resistance exhibited by anonymous whales and loyal hoarders indicates that the market cycle has entered a new phase.
The anonymous trader at the center of the news has made a huge profit margin in total, $3.7 million so far, just from the Ethereum short position. This figure, who stayed away from the noise of social media and acted solely on data, managed to turn the volatility, which even professionals managing billions of dollars of funds could not foresee, to his advantage. This underlying success proved once again that risk management, not the number of followers, determines the real winner in the financial world. It remains a matter of curiosity when 0x58bro will close its positions or whether it will join the accumulating whales.
