“Markets shift, but consistency compounds.”

In Q2 2025, the number of traders on Mirrorly’s curated list grew from 180 to over 210. During this period, 61% of them generated profits. We tracked more than 492k positions and over 3.8 million order fills.

Market Overview

While Q1 ended with double-digit losses across major assets, Q2 marked a sharp reversal, led by $ETH with a gain of +36.5%, followed by $BTC at +29.9% and $SOL at +24.3%.

The improved market conditions were mirrored in trader performance, with the share of profitable traders rising from 53% in Q1 to 61% in Q2, an 8% increase.

Top 10 Traders Overview

The ten featured traders this quarter recorded gains ranging from approximately $900k to $16.9 million, with an average profit of $3.7 million.

Excluding the three major large-cap tokens ($BTC, $ETH, and $SOL), which together accounted for roughly 91.8% of total notional trading volume, the most actively traded alternative tokens were $HYPE, $FARTCOIN, and $DOGE.

0x8af leads the list with just 22 positions closed during the quarter, yet posted the highest profit factor at 47.8 and an average profit-to-drawdown ratio of 6.4. His average holding period was around 13 days, consistent across both winning and losing trades. Notably, several of these top performers also ranked among the top 10 in Q1—namely 0x8af, TRADERT22 (now ApexTraderAlex2), and bigdestiny—highlighting their ability to remain consistently profitable across varying market conditions.

SLEEPTRADE recorded the highest profit per unit of exposure, earning $0.10 for every $1 in notional, though this figure carries limited weight given he closed only three positions during the quarter. More notable are bigdestiny, 0x8af, and 0x8cc, who posted between $0.035 and $0.05 in profit per dollar of notional. On the lower end, the remaining traders all came in below $0.02. TRADERT22, as in the previous quarter, had the lowest ratio, indicating minimal profit relative to the size of his positions. Overall, traders with longer holding periods tend to generate higher profit percentages per dollar of notional exposure.

The PnL distribution highlights the distinct trading profiles of each trader, which directly influence their performance metrics. 0x8af, the top performer of the quarter, stands out with the most positively skewed distribution, characterized by limited extreme losses and a few substantial wins. In contrast, TRADERT22 displays a more symmetric distribution, reflecting a narrow edge with a 54% win rate and a modest profit factor of 1.26.

The Most Profitable Position

Among this quarter’s selected traders, the most profitable position was an $ETH long by 0x8af, generating $5.4 million in profit over just 1.5 months. As shown in the 3D chart, he entered near the precise bottom around the key $1,400–$1,500 range, an area that previously triggered $ETH’s rally from $1,500 to $4,000 at the end of 2023. He held the position through the uptrend and exited near the next major resistance around $2,500–$2,700, capturing a ~60% move.

In terms of execution, 0x8af opened the trade on April 7 just above $1,400 with a $5 million notional. Over the following days, he adjusted the position slightly, increasing and reducing exposure, before leaving it untouched until May 11, when he began taking significant profits. He fully closed the position on May 18. This single trade accounted for approximately 30% of his total profits for the quarter.

Conclusion

Q2 2025 saw a shift in market direction, which was reflected in improved trader performance. Several traders who ranked highly in the previous quarter appeared again, highlighting their ability to adapt and manage risk across different conditions. 0x8af, in particular, delivered strong results through disciplined execution and controlled exposure.

As markets continue to change, our focus remains on tracking those who demonstrate consistency over time.

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Stay tuned for more insights in future editions.

Disclaimer

We track a carefully curated and regularly updated list of top-performing public traders across platforms like Binance and Hyperliquid. While we aim for high data accuracy, some limitations remain, such as traders switching to private mode or technical constraints like rate limits. Despite these challenges, we dedicate significant effort to ensure the data is as reliable as possible.