Crypto Trader turns 1.5 SOL into 2 Million
A trader managed to turn 1.5 SOL, worth $92, into more than $2 million in just 22 days by trading a little-known Solana-based altcoin.
ALT Trading on SOL-Based Token
An on-chain analysis service pointed out that the trader started trading $SILLY tokens just five minutes after they opened for trading, spending 1 SOL worth $62 to buy 43.1 million tokens right away.
Profit and Controversy
The trader sold 33.34 million $SILLY for over $520,000 and still has 9.67 million tokens worth over $1.5 million. However, several users suggested this was insider trading advantage of non-public information.
Solana Ecosystem Recovering
Solana’s ecosystem is recovering after cryptocurrency exchange FTX collapsed, leading to a 1,000% increase in the token’s price year-to-date, and benefiting from its Saga smartphone recent airdrop.
Analysts and Predictions
Analysts believe SOL’s price may keep rising, with a popular cryptocurrency strategist predicting a major surge for it in the future.
Hot Take
A popular cryptocurrency trader is “hyper bullish” on the smart contract platform Solana (SOL) going into 2024 after analyzing the cryptocurrency’s price against leading smart contract platform Ethereum (ETH).
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