A cryptocurrency trader identified by the wallet address 0xbbc0 has defied bearish market sentiment, generating over $2 million in three days. The trader is now making another bold move, going long amid ongoing market turbulence.
According to on-chain activity, the trader opened a 5x long on 29.5 million Starknet (STRK), valued at roughly $6.7 million. That position has since surged, producing more than $2.5 million in profit within three days, according to on-chain data retrieved by Finbold from Lookonchain on November 17.
Notably, STRK has been among the standout assets in the current market environment. Rising interest in privacy-focused cryptocurrencies has fueled demand, with STRK benefiting from its use of Zero-Knowledge (ZK) Rollup technology to enhance transaction throughput.
The network now allows on-chain verification of Zcash-style zero-knowledge proofs, bridging privacy and scalability. Adding to the momentum, developers unveiled ZTARNET, a network designed to combine Zcash’s (ZEC) privacy guarantees with Starknet’s high-performance STARK proofs.
By press time, STRK was trading at $0.2181, having plunged over 10% in the past 24 hours, while rallying almost 100% over the past month.
Going long on HYPE
Now, rather than scaling back after securing a multimillion-dollar gain, the trader has escalated his strategy. Four hours after the STRK success, he opened a 10x long on 77,598 Hyperliquid (HYPE), valued at approximately $2.98 million.
A 10x long multiplies exposure aggressively, leaving far less room for price retracements but offering significant upside if momentum continues.
A $2.5 million profit followed by a swift shift into a large leveraged HYPE position has made this wallet closely watched by derivatives traders.
On-chain data indicates that the HYPE position was entered around $38.12 and is already in profit, reflecting a strategy built around rapid, high-leverage plays.
Notably, nearly the entire portfolio value, around $7.54 million, is concentrated in these perpetual futures positions, highlighting the trader’s aggressive risk appetite.
As of press time, HYPE was trading at $38.08, down 2.5%.
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