The trader profited $1.8 million by longing XPL at $0.32 during a liquidation event, while holding over 80% of their portfolio in stablecoins. This suggests a strategy of capitalizing on extreme volatility in altcoins while maintaining a defensive core portfolio. The trader expresses a negative sentiment on holding "scam assets," indicating a short-term, opportunistic approach rather than long-term conviction in most crypto assets.