Trader SMXKX Earns Over $12M by Shorting Gold and Silver
According to new data from on-chain analyst Ai Auntie, the Binance-based trading account SMXKX recently executed a successful trading strategy that generated substantial profits from the precious metals market.
The account began establishing short positions in silver (XAG) in late January. During the initial phase, the trade faced unrealized losses exceeding $1 million. However, instead of cutting losses, the trader chose to maintain the position and even added to it, eventually taking short positions in gold when prices hit a short-term peak on January 29.
Precision Trading Tops Smart Money Leaderboard
As precious metal prices corrected sharply in early February, the strategy reached its maximum profitability on February 5, generating total gains of $12.38 million. This success propelled the account to the top of Binance's 30-day Smart Money Leaderboard for futures trading.
- Initiated silver short in late January
- Experienced losses exceeding $1M initially
- Opened gold short at peak prices
- Profits reached $12.38M on February 5
This trade demonstrates not only strong risk tolerance but also exceptional market timing. Notably, the account did not utilize any anonymity services, with all transactions conducted through a standard Binance mainnet account.