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While $120M is a huge amount of money, it doesn't necessarily mean they got a huge percentage return. I don't see how much they staked to get this return. The a
by caymanjim 3y ago
While $120M is a huge amount of money, it doesn't necessarily mean they got a huge percentage return. I don't see how much they staked to get this return. The article does mention that the two wallets are collectively worth $3B, and that they used 1-2x leverage in this bet. I'm curious how much they actually bet on this.
Was it a 10% overnight return? That's a fantastic return, but plenty of traditional market gamblers have pulled that off. Doesn't diminish their success in any way. I'm trying to figure out how much they gained as a percentage of the gambled amount, as the actual dollar amount doesn't mean much.
- jdminhbg 3y agoYeah, it's interesting that the way Ethereum works make it possible to see exactly how the trade worked and how much it made, but "traders with huge resources made a leveraged bet and won" is something that happens constantly.
- Rastonbury 3y agoIn the article, they said they opened the position when Ethereum was 1,000 which was 2021.
- caymanjim 3y agoThat's when they initially started building their now-$3B stake. Doesn't have anything to do with this $120M trade.