Cryptocurrency Trader Makes $1.2 Million Profit from Pandora Token
A trader has made a profit of over $1 million from purchasing the Pandora (PANDORA) token, which was launched recently. According to market analytics platform LookOnChain, the trader’s investment recorded significant gains after just two days.
From $97K to $1.2M
The trader spent $97,484 Tether (USDT) to buy 154 PANDORA tokens at $633 each, resulting in a total investment of less than $100,000. The current price of PANDORA has risen to over $8,600, making the trader’s stash worth around $1.24 million.
Recently, the trader sold 25 PANDORA tokens for $188,695 USDT, earning a profit of $91,211 USDT. With 129 PANDORA tokens still remaining in their wallet, valued at approximately $1.1 million, the trader has an unrealized profit of the same amount.
The First ERC404 Token
Pandora is the first token built on the ERC404 standard, which combines features of ERC20 and ERC721 assets. This experimental standard blends liquidity and fractionalization capabilities to unlock new possibilities in decentralized finance (DeFi) and non-fungible tokens (NFTs).
ERC404 allows for the coexistence of token amount data and identifiers in a unified framework through a technique called pathing. However, it is important to note that while PANDORA’s surge indicates confidence in the ERC404 token standard, there is still potential for significant declines.
Hot Take: Trader Profits Big from Pandora Token
A cryptocurrency trader has made an impressive profit by investing in the Pandora token. With an initial purchase of less than $100,000, the trader’s investment has now grown to over $1.2 million in just two days. This success story highlights the potential for significant gains in the cryptocurrency market. However, it is essential to remember that investing in cryptocurrencies carries risks and volatility. The Pandora token is the first of its kind on the ERC404 standard, offering unique opportunities in decentralized finance and non-fungible tokens. While this token has seen remarkable growth, it remains important to approach such investments with caution and do thorough research before making any financial decisions.
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