Crypto Futures Trader Makes $2.6 Million in One Day
updated on:18 Dec 2020
The top-ranked trader on Binance’s futures platform, named BatThursdayBurn, earned just over $2.6 million in the last 24 hours, according to the exchange’s leaderboard today.
Futures are a form of financial derivatives where parties agree to sell/buy an asset at a specific price on a set date. Unlike options contracts, where buyers might choose to not purchase the asset, futures are contractually binding and must be settled on the expiration date.
At press time, BatThursdayBurn’s daily PNL—or “Profit and Loss”—amounts to a positive $2,615,371, placing them 1st in Binance’s ranking. Similarly, the trader’s weekly and monthly PNLs currently stand at $874,664 (9th place) and $5,124,175 (1st place again) in the green, respectively.
However, in terms of daily (15.17%), weekly (6.97%), and monthly (18.35%) returns of investment (ROI), BatThursdayBurn’s performance is a bit more humble—they are ranked somewhere outside of Binance’s top 500 by these metrics.
In total, the trader’s all-time ROI and PNL stand at 45.49% and $17,314,913, respectively.
As Decrypt reported, Bitcoin’s price surged to over $23,000 this morning, setting a new all-time high. Consequently, the number of Bitcoin addresses holding at least $1 million worth of BTC has skyrocketed.
As the price of Bitcoin is rising for a multitude of reasons, it is perhaps unsurprising that some of this growth has rubbed off on traders’ profits.
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