A crypto asset investor managed to turn an initial capital of US$125,000, or roughly Rp2 billion, into millions of dollars in profit through Ether (ETH) trading on a decentralized exchange, even as whales began locking in gains following the latest price rally.

In a post on X dated Sunday (August 17, 2025), the investor initially deposited US$125,000 into the decentralized exchange Hyperliquid. He then consistently rolled his profits back into long ETH positions. This bold approach allowed him to build massive exposure worth US$303 million, or approximately Rp5.1 trillion, at its peak.

The investor’s portfolio even surged to over US$43 million, or about Rp723 billion, within just four months, before a market correction dragged down his long ETH position at the US$4,291 level.

Eventually, he closed out all his positions and secured net gains of US$6.86 million, or around Rp115 billion. This represented a remarkable return of 55 times his initial capital.

Whale Profit-Taking Activity

Market participants are always attentive to whale movements. Buying and selling activities from these large investors often influence short-term sentiment, given the significant amounts of capital they control.

Toward the end of last week, outflows from U.S. spot Ether ETFs reached US$59 million, or around Rp993 billion, on August 16. This halted an eight-day streak of consecutive inflows, according to Farside Investors.

The situation was followed by several whales realizing their profits. They appeared to be preparing for a potential market correction during the remaining summer holiday period in August.

Nansen data revealed that on Monday (August 18, 2025), a wallet identified as “0x806”—ranked among the top 100 Ether traders—sold more than US$9.7 million worth of ETH, or around Rp163 billion. It was the second-largest sale within the past 24 hours. Meanwhile, another large wallet with the address “0x34f” also sold ETH valued at US$1.29 million, or about Rp21.7 billion. Several other whales likewise unloaded millions of dollars’ worth of Ether.