Chainfeeds Summary:
A miracle of 14 times the initial investment of $170,000.
Article source:
https://www.theblockbeats.info/news/62174
Article Author:
BlockBeats
Opinion:
BlockBeats: On April 24, 2026, APE, which had been dormant for a long time, suddenly surged, with a single-day increase of over 110%, reaching a high of around $0.1965. In this frenzy, a newly created Hyperliquid wallet address emerged as one of the biggest winners. On-chain data shows that this address sold 75 ETH before the APE surge, cashing out approximately $174,000 as initial capital. It then cross margin this capital to long on 9.19 million APE tokens at 5x leverage. During the rapid price increase, the address closed its position almost at the peak, making a single profit of approximately $1.79 million. More importantly, it immediately reversed short and went short, profiting another $488,000 during the pullback. In just one day, the address amplified its initial $174,000 to $2.45 million, with a total profit of $2.27 million. Such precise entry, exit, and switching between long and short positions led to widespread market suspicion of "insider trading," especially the act of heavily investing before the price surge, almost perfectly timing the core fluctuations of the entire market. APE's surge was not without reason; it was directly catalyzed by a management reshuffle at Yuga Labs. Co-founder Greg Solano became chairman, and Michael Figge, a veteran of the film and animation industry, was brought in as CEO. The market interpreted this as a signal of improved governance and strategic restructuring, igniting speculative sentiment. However, the address's precise positioning before the announcement cast a shadow over this rally. After profiting from APE, the address quickly shifted to LDO, again demonstrating exceptional timing. Through two wallet addresses, it long on 5.57 million LDO tokens on Hyperliquid with 5x leverage, totaling over $5 million. As LDO subsequently rose by over 20%, one address realized a profit of approximately $50,000 and closed its position, while the other address still held millions of long positions with a floating profit of approximately $250,000. Overall, this address has accumulated nearly $300,000 in profits on LDO, continuing its high-win-rate trading style. Unlike APE, which relies on news, LDO's rise is more fundamentally supported. Previously, its price had been declining for a long time, falling more than 95% from its historical high. Faced with valuation discrepancies, the Lido DAO passed a buyback proposal in mid-April, planning to use up to 10,000 stETH to repurchase LDO, providing direct buying support to the market. Against this backdrop, funds began to rotate from Bitcoin to some Altcoin. Although BTC's dominance remains high, localized market movements have gradually become more active. In the past month, several low-market-cap or long-term declining assets, including RIVER, APE, and ORDI, have experienced sharp rises. However, these movements are more driven by speculative trading than by fundamental improvements. Market rumors suggest that active market makers have a strong influence in some projects, even able to influence price movements and unlocking schedules. Driven by both capital rotation and market-making forces, "old coin price surges" have become the main theme for this phase, but the associated manipulation risks should not be ignored.
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