The person in question has traded ten times on GMX, having a win rate of 80%.
As revealed by Lookonchain, a mysterious user of the decentralized perpetual exchange GMX raked in approximately $1,000,000 after the crypto market crashed in mid-August since they shorted Ethereum at a high price a month ago.
The trader opened the short position on July 14, when ETH was worth around $2,000 , and closed it on August 17, when the second-largest cryptocurrency by market capitalization dipped to almost $1,700. The generated profit equaled nearly $1 million. The GMX trader waited a bit and opened another position, but this time betting that Ethereum’s valuation will head north. The entry price was $1,624, whereas ETH currently trades at over $1,660.at a high price on Jul 14 and closed the position after the market crashed on Aug 17, making nearly $1M.
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