Crypto trader turns $24k into $275,000 for 11x return

---

---

The sudden cryptocurrency market upsurge following months of decline or stagnation generated several major success stories, and this trader, after approximately a month-long wait, saw the value of his long positions rise elevenfold.

Specifically, a user with the shortened designation 0x3376…8A05 on the Aster decentralized exchange (DEX) saw a series of positions worth initially $24,000 explode to a staggering $275,000 in less than a month, per the data shared by Lookonchain on August 26.

The trader has, by early Wednesday morning, withdrawn approximately $91,000, leaving them with a balance of roughly $184,000.

Notably, the bet was high-risk since, despite involving Bitcoin (BTC), Ethereum (ETH), and Chainlink (LINK) – all prominent cryptocurrencies – it was made with 100x leverage.

Top cryptocurrencies soar more than 20% in a week

Meanwhile, the sudden success of the cryptocurrency investor came thanks to a sudden reversal in the trajectory of digital asset prices. 

Between January 1 and August 16, Bitcoin declined 26.48% from $87,412 to $64,269, only to reverse and soar 21.96% to $78,401 within the last 7 days.

Ethereum’s performance was just as impressive, with a 28.32% rocketing from $1,916.47 to $2,460.08 within the same timeframe, though the cryptocurrency began a slow recovery already in June.

Bitcoin and Ethereum price YTD charts. Source: Google

Still, both ETH and BTC remain in the red year-to-date (YTD), with the former falling 17.09% and the latter 10.31%.

Chainlink followed a similar trajectory to its bigger peers as it soared from $10.55 on August 19 to $11.36 at press time on August 26, though its YTD loss is, at 6.56%, notably smaller than either that of Bitcoin or Ethereum. 

Chainlink price YTD chart. Source: TradingView

Latest crypto market rally wipes most of the 2026 losses

Elsewhere, the latest digital assets rally erased most of the 2026 losses from the total cryptocurrency market capitalization. Specifically, the value dropped from $2.97 trillion at the start of the year to $2.19 trillion on the eve of the upsurge.

Cryptocurrency market capitalization YTD chart. Source: TradingView

By press time, the decline had diminished to $350 billion, though the fact that the rally stalled on August 22 leaves the question of whether the move constitutes the beginning of a new bull market open.

Featured image via Shutterstock

The post Crypto trader turns $24k into $275,000 for 11x return appeared first on Finbold.