dailyloe.com – On April 25, 2026, an anonymous wallet executed a remarkable trade, turning $174,000 worth of ether into $2.45 million by trading Apecoin during an 80% price surge.
The wallet, identified as 0x0b8a, had no prior trading history and achieved this profit by trading on both sides of the price movement.
Initially, the trader sold ether valued at $174,000 on the decentralized exchange Hyperliquid, then opened a 5x leveraged long position with 9.19 million APE tokens.
Apecoin surged over 80% shortly after, allowing the wallet to close the long position for a profit of $1.79 million.
Immediately after, the trader opened a short position, generating an additional $488,000, bringing the total gain to $2.27 million, equating to a 14x return on the initial investment.
The surge in Apecoin’s price appears linked to an announcement from Yuga Labs, which disclosed the appointment of a new CEO, Michael Figge.
This announcement led analysts to speculate that the wallet’s trading activity might be indicative of insider trading.
Lookonchain, an onchain analytics firm, highlighted the wallet’s lack of transaction history, which raised suspicions about the trading strategy employed.
According to Lookonchain, the wallet’s newly created status and the timing of the trades suggest informed positioning ahead of the corporate announcement.
Despite the unusual trading patterns, no formal investigation has been initiated regarding the activity.
