Crypto Trader Sees 11x Return on $24k Investment Amid Market Reversal
A crypto trader has made an astonishing 11x return on their investment, turning $24,000 into $275,000 in just under a month. The trader, identified by the username 0x3376...8A05 on the Aster decentralized exchange (DEX), used 100x leverage to bet on Bitcoin, Ethereum, and Chainlink.
The sudden cryptocurrency market upsurge following months of decline or stagnation has generated several major success stories. According to data shared by Lookonchain on August 26, the trader's long positions rose from $24,000 to a staggering $275,000 in less than a month.
However, this high-risk bet came with significant consequences. By early Wednesday morning, the trader had withdrawn approximately $91,000, leaving them with a balance of roughly $184,000.
The cryptocurrency market has experienced a reversal in recent weeks, with Bitcoin and Ethereum prices soaring more than 20% in just seven days. Between January 1 and August 16, Bitcoin declined by 26.48%, only to reverse and rise 21.96% to $78,401 within the last week.
Chainlink followed a similar trajectory, increasing from $10.55 on August 19 to $11.36 at press time on August 26. The latest digital assets rally has erased most of the 2026 losses from the total cryptocurrency market capitalization.