A lucky cryptocurrency dealer has managed to show round $462 price of the native token of Solana, SOL, into practically $1 million in simply three hours, to safe a 2,141x return on a cryptocurrency that was newly launched.
Based on information shared by on-chain analytics agency Lookonchain, the dealer made $988,000 with their 2 SOL tokens after spending them to purchase 18.89 million $QUANT, earlier than promoting 3.71 million $QUANT for 116 SOL price $27,000, whereas preserving the remaining of their pockets.
Numerous merchants have managed to make tens of millions off of memecoin investments this yr, with one dealer, recognized on-chain by the alias “sundayfunday.sol,” turning a $72,000 funding right into a staggering $30 million inside simply three days buying and selling a little-known cryptocurrency.
As reported, a affected person’ cryptocurrency dealer has not too long ago managed to flip round $8,600 into over $1.26 million after investing in a little-known cryptocurrency and holding onto it for 2 months to safe their achieve of 144x.
The dealer’s features got here after one other cryptocurrency dealer managed to show 500 SOL tokens price round $67.000 into 5,789 SOL price over $780,000 in simply quarter-hour after managing to “snipe” a big portion of a newly launched cryptocurrency’s provide.
There have additionally been different important losses, with a Solana dealer dropping $37,000 whereas speculating on a memecoin over their emotional buying and selling sample. It’s price noting memecoin are extraordinarily speculative and risky, and whereas tales of profitable trades typically floor, these of unsuccessful trades are sometimes buried.
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