Binance User Secures Over $12 Million Profit Through Gold and Silver Shorting

A Binance user, identified by the on-chain analyst Ai Yi as account SMXKX, has reportedly achieved substantial profits exceeding $12.28 million by strategically shorting gold and silver. The user began shorting silver (XAG) in late January, enduring an initial unrealized loss of over $1 million. Subsequently, the trader shorted gold at its short-term high on January 29.

The trading strategy ultimately reached its peak profitability on February 5, with the account's profit reaching an impressive $12.38 million.

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