Trader Nets $7 Million Profit on Hyperliquid After Trump's Crypto Announcement

A trader on Hyperliquid, a decentralized perpetual swaps platform, made a $7 million profit in 24 hours after taking a leveraged long position before Donald Trump's crypto reserve announcement on Sunday morning. The trader deposited approximately $5.6 million USDC, using 50x leverage to open positions on Bitcoin and Ether, bringing the total position value to over $200 million. Around 9:37 am Sunday, the trader's ETH position was close to liquidation, needing only a $54 drop to trigger a $2 million loss. However, Trump's announcement at 10 am Sunday caused prices to surge. The trader closed their positions, securing $7 million in profits, according to HypurrScan. Bitcoin has risen nearly 9% in the last 24 hours, while Cardano, also mentioned in Trump's announcement, surged by 58%.