17 ten thousand dollars principal's 14 times miracle.

Written by: 0x2333

In the cryptocurrency market, behind every sudden surge, there often lurks sharp-eyed "smart money". Recently, a newly created wallet address capitalized on the soaring trend of ApeCoin (APE), making a staggering profit of 2.27 million dollars in a single day with a return of 14 times. More interestingly, after completing the APE hunt, the address quickly shifted its funds to Lido DAO (LDO) and achieved profits once again.

This article will deeply analyze the on-chain operation trajectory of the "insider address", combining recent fund rotations in the crypto market, rumors regarding market makers, and the rebound in the NFT market, to explore the market undercurrents behind this "old coin rally".

APE Hunting Moment: 17 Ten Thousand Dollars Principal's 14 Times Miracle

On April 24, 2026, the long-dormant APE suddenly erupted, with a single-day increase exceeding 110%, peaking near $0.1965. In this frenzy, a newly created Hyperliquid wallet address (0x0b8a...) became one of the biggest winners. According to tracking by on-chain data monitoring institutions Lookonchain and Onchain Lens, the operations of this address are considered textbook-level "insider trading":

Fund preparation: On the eve of the APE surge, the newly created wallet sold 75 ETH on the Hyperliquid platform, cashing out about 174 thousand dollars as principal.

High-leverage long: Subsequently, the address decisively used 5x leverage to go long 9.19 million APE (with a nominal value of about 1.03 million dollars).

Precise closing: As the price of APE surged, the address closed its long position near the peak, making a profit of about 1.79 million dollars in a single operation.

Reverse short: Astonishingly, after closing the long position, the address immediately opened a short position, again making a profit of about 488 thousand dollars as the price retraced.

In just one day, this address rolled the 174 thousand dollars principal into 2.45 million dollars, with total profits reaching 2.27 million dollars. Such precise timing and transition between long and short positions led the market to speculate if it held undisclosed insider information.

The direct catalyst for this surge in APE was the major executive changes announced by its parent company Yuga Labs. Former CEO and co-founder Greg Solano transitioned to chairman, appointing veteran Michael Figge from the film and animation industry as the new CEO.

The market interpreted this personnel change as a positive signal for governance improvement and strategic restructuring at Yuga Labs, reigniting investor speculation enthusiasm. However, considering the precise ambush of the insider address prior to the news release, it undoubtedly intensified the market's questioning of its "insider trading".

Chasing Victory, Shifting Massive Funds to LDO

After completing the harvesting on APE, the address did not stop but quickly turned its attention to another established DeFi project, Lido. According to Lookonchain monitoring, the suspected insider used two wallet addresses to once again open a long position for 5.57 million LDO on Hyperliquid with 5x leverage, with a total holding value as high as 5.16 million dollars.

This morning, as LDO's price subsequently rose over 20%, the address once again reaped substantial gains. One associated wallet closed with a profit of about 50 thousand dollars, while the other wallet continued to hold a long position of 5.96 million LDO (worth about 2.65 million dollars), currently with an unrealized profit of about 250 thousand dollars. This means the address has accumulated profits of about 300 thousand dollars on LDO.

Unlike APE, which was purely stimulated by news, LDO's rise has a more solid fundamental backing. Previously, LDO's price had experienced a long-term decline, dropping over 95% from historical highs and even touching historical lows around $0.27. In light of the token's price severely deviating from the protocol's fundamentals (Lido possesses a very deep moat and stable staking income), the Lido DAO community passed a significant proposal in mid-April: to use up to 10,000 stETH (worth about 20 million dollars) from the treasury to repurchase LDO tokens.

This buyback plan brought direct buying pressure and strong price support to LDO, prompting its price to hit a 10-week high. The address’s decision to heavily invest in LDO at this time clearly indicates it anticipated the certainty of price increases brought by the buyback plan.

Capital Rotation, Market Makers, and Price Rebound: Dark Currents in the Crypto Market Resurrected

In April 2026, Bitcoin's dominance (BTC.D) remained at a high level of 56%-60%, and the market did not welcome a comprehensive "altcoin season". However, against the backdrop of easing risk aversion and BTC maintaining high volatility, some profit-seeking funds began to seek new breakthroughs, rotating towards more flexible altcoins.

However, as the broader crypto market rebounds, various sectors have seen emerging hot targets. Apart from the previous BSC ecosystem meme boom, following the recent White House correspondents’ dinner shooting incident, the meme market has also seen several "golden dogs" emerge again. In this localized capital rotation, several low market cap or long-term downtrend old tokens like RIVER, APE, and ORDI have exhibited extreme rallies over the past month.

However, this "old coin carnival" often lacks sustainable fundamental support, being more the result of capital games. According to a crypto KOL report, an active market maker named HSBG has become a hot topic in the circle, reportedly making over 100 million dollars just by trading the RIVER project, with a voice so substantial that it is capable of manipulating token unlock schedules.

From APE's 14 times profit to LDO’s follow-up achievements, the on-chain trajectory of this "insider address" reveals the cruel and precise capital games within the crypto market. With the aid of capital rotation and market makers, the “old coin rally” continues to unfold. For ordinary investors, while marveling at the profits of smart money, one should also maintain a clear mind and be wary of the manipulation risks behind extreme market scenarios.