Crypto Whale Nets $9M Profit Betting Big on 22 Altcoins—Wall Street Analysts Still Calling It Luck

A single trader just turned a massive long position across 22 cryptocurrencies into a $9 million payday—proving once again that crypto moves faster than your average hedge fund.

While traditional finance scrambles to explain the rally, the anonymous whale doubled down during last week’s dip. Their portfolio? A mix of blue-chip tokens and obscure alts that somehow dodged the market’s usual volatility.

Funny how these ’unpredictable’ gains keep happening while Wall Street’s quant models are still backtesting 2017 data.

A crypto whale has recently made a notable profit on crypto long positions. As per the data from Lookonchain, the crypto whale went long on Bitcoin ($BTC), Solana ($SOL), Ethereum ($ETH), Chainlink ($LINK), Ripple ($XRP), Litecoin ($LTC), and sixteen other crypto tokens, getting $9M in profits. The on-chain analytics platform revealed this development in a recent X post.

A whale has been long $BTC, $ETH, $SOL, $LTC, $XRP, $LINK and other 16 tokens in the past month, with a total profit of more than $9M.

Additionally, this whale bought 309 $BTC ($24.68M) at an average price of $79,792, currently sitting on unrealized profits of more than $5M.… pic.twitter.com/LVwmdlmUhf

Whale Pockets $9M in Long Positions in $BTC, $SOL, and 20 Other Crypto Coins

Lookonchain’s statistics demonstrate the whale’s bullish sentiment for digital assets. By opening long positions in a wide range of crypto assets, including Bitcoin ($BTC), Solana ($SOL), and Ethereum ($ETH), the whale has reportedly pocketed up to $9M. This massive whale activity shows comprehensive leverage strategies and thorough market understanding. The market data reveals that the whale now accounts for a cumulative portfolio value of $13.57M.

Additionally, this also comprises $3.57M withdrawable amount apart from a 3.52x leverage, paving the way for a cumulative $47.74M in position value.

Simultaneously, the whale’s total perpetual equity of $13.57M has a 34.34% margin usage. Additionally, the whale’s 100% long exposure is another bullish sign. Specifically, among the whale’s notable long positions, Bitcoin ($BTC) accounts for 78 $BTC, equaling $6.82M. This position reportedly accounts for an unrealized profit of 466.73% at $1.27M. Similarly, the whale’s long $ETH position has a value of $9.12M (equivalent to 5,000 $ETH) with a $1.54M in unrealized profit.

Whale’s Massive Long Positions Highlight Potential for Continuous Accumulation Spree

According to Lookonchain, the noteworthy long positions of the whale signal a substantial confidence in the current crypto bull market. Particularly, the whale’s long positions in $BTC, $SOL, and $ETH display an enormous interest. However, whether the whale will further carry on this accumulation trend or shift toward profit-taking remains to be seen.