APE 從 14 倍暴利轉戰 LDO，「內幕地址」的獵殺時刻

In the crypto market, behind every seemingly inexplicable surge, there often lurks a keenly sensitive "smart money." Recently, a newly created wallet address, through precise leveraged operations amidst a dramatic rally in ApeCoin (APE), raked in $2.27 million in profit in a single day, achieving a return of 14 times. Even more striking is that after completing its hunt on APE, the address swiftly redirected its funds to Lido DAO (LDO) and once again turned a profit.

This article will conduct an in-depth analysis of this "insider address's" on-chain operational trajectory. It will also combine recent capital rotation in the crypto market, rumors surrounding market makers, and the rebound in the NFT market to explore the underlying currents behind this "old coin pump."

The APE Hunt: A 14x Miracle on a $170,000 Principal

On April 24, 2026, APE, which had been dormant for a long time, suddenly erupted, surging over 110% in a single day and peaking near $0.1965. Amid this frenzy, a newly created Hyperliquid wallet address (0x0b8a...) emerged as one of the biggest winners. According to tracking by on-chain data monitoring firms Lookonchain and Onchain Lens, the address's operations were textbook "insider trading":

Capital Preparation: Just before the APE surge, this new wallet sold 75 ETH on the Hyperliquid platform, cashing out approximately $174,000 to use as principal.

High-Leverage Long: Subsequently, the address decisively used 5x leverage to go long on 9.19 million APE (notional value of about $1.03 million) with its entire capital.

Precise Close: As the APE price skyrocketed, the address closed its long position near the peak, netting approximately $1.79 million in profit from this single trade.

Reverse Short: Astoundingly, after closing the long, the address immediately opened a short position. As the price retraced, it profited an additional approximately $488,000.

In just one day, the address snowballed its $174,000 principal into $2.45 million, generating a total profit of $2.27 million. This precise timing of entry and the seamless switch between long and short positions has led the market to speculate whether the trader possessed undisclosed insider information.

The direct trigger for APE's surge was a major executive change announced by its parent company, Yuga Labs. Former CEO and co-founder Greg Solano transitioned to Chairman, and Michael Figge, a seasoned professional from the film and animation industry, was appointed as the new CEO.

The market interpreted this personnel shift as a positive signal of improved governance and strategic restructuring at Yuga Labs, reigniting speculative fervor among investors. However, considering the insider address's precise positioning before the news broke, it undoubtedly deepens market suspicions of "insider trading."

Riding the Momentum, Moving Massive Funds to LDO

After cashing out on APE, the address didn't stop. It quickly turned its attention to another established DeFi project, Lido. According to Lookonchain's monitoring, this suspected insider used two wallet addresses to once again open a 5x leveraged long position on the Hyperliquid platform, this time buying 5.57 million LDO, with a total position value of $5.16 million.

This morning, following an over 20% rise in the LDO price, the address scored again. One associated wallet closed its position after making a profit of approximately $50,000, while another wallet continues to hold a long position of 5.96 million LDO (valued at approximately $2.65 million), with an unrealized gain of about $250,000. This means the address has accumulated a profit of roughly $300,000 from its LDO trades.

Unlike APE's purely news-driven surge, LDO's rally has a more solid fundamental backing. Previously, the LDO price had experienced a prolonged downtrend, falling over 95% from its all-time high and even briefly touching a historic low near $0.27. Facing a token price severely diverging from the protocol's fundamentals (Lido possesses a deep moat and stable staking revenue), the Lido DAO community passed a significant proposal in mid-April: to use up to 10,000 stETH (worth approximately $20 million) from its treasury to buy back LDO tokens.

This buyback plan provided direct buying pressure and strong price support for LDO, pushing its price to a 10-week high. The address's decision to take a heavy position in LDO at this time clearly indicates it was betting on the deterministic upward potential offered by the buyback program.

Capital Rotation, Market Makers, and Price Rebounds: Crypto Market Undercurrents Resurface

In April 2026, Bitcoin dominance (BTC.D) remained high, between 56% and 60%, and the market did not experience a full-blown "alt season." However, against the backdrop of easing risk aversion and BTC maintaining a high-level consolidation, some profit-taking capital began seeking new breakout opportunities, rotating into more elastic altcoins.

Yet, with the broader crypto market's rally, hot targets across various sectors have emerged continuously, one after another. Besides the earlier BSC ecosystem meme craze, the meme market also saw several "golden dogs" appear following the White House Correspondents' Dinner shooting over the weekend. In this localized capital rotation, several low-market-cap or long-declining old-guard tokens like RIVER, APE, and ORDI have staged extreme price surges over the past month.

However, this "old-coin revelry" often lacks sustained fundamental support and is more a result of capital games. According to leaks from a crypto KOL, a proactive market maker named HSBG has become a hot topic within the circle. It is rumored to have made hundreds of millions of dollars just from manipulating the RIVER project, wielding so much influence that it could even dictate the token's unlock schedule.

From APE's 14x windfall to the follow-up profit on LDO, the on-chain trail of this "insider address" reveals the brutal precision of capital battles in the crypto market. Fueled by capital rotation and market makers, the "old coin pump" narrative continues to play out. For ordinary investors, while marveling at the outsized profits of smart money, it is crucial to maintain a clear head and be wary of the manipulation risks lurking behind extreme market movements.