Crypto whale holding oil shorts walks away with $2 million in profit
CoinDesk
A crypto trader known as Loracle earned a $2 million profit by closing a short position on oil futures after prices crashed.Summary
A crypto trader identified as "Loracle" secured a $2 million profit by closing a $5 million short position on crude oil perpetual futures on the decentralized platform Hyperliquid. The trade proved successful after oil prices dropped by over 15% following news of a U.S.-Iran ceasefire. This event highlights the growing role of decentralized exchanges like Hyperliquid in facilitating speculative bets on traditional assets, with WTI crude oil futures recently surpassing ether in trading volume on the platform.
(Source：CoinDesk)