Trader Makes $59,000 Profit in 11 Hours with ERC-404 Token
A trader recently achieved a significant profit of $59,000 within just 11 hours by leveraging the MINER token based on the ERC-404 token standard and using strategic high-gas transactions.
The Trader’s Strategy
The trader started by withdrawing 1 ETH from Binance and investing 0.065 ETH to purchase 1073 units of the ERC-404 token known as MINER. Despite the low initial investment, the trader strategically used 0.802 ETH in gas fees to facilitate the transaction.
The trader promptly sold 722 MINER tokens for a return of 19.11 ETH, using an additional 0.5 ETH in gas fees. Currently, the trader still holds 350 units of MINER tokens valued at around $15,000, resulting in a total profit of $59,000.
Trader Nets $166K in 2 Days with DeFrogs
In a similar success story, another trader made over $166,000 within two days by leveraging the DeFrogs token based on the ERC-404 token standard. The trader initially invested 0.258 ETH to acquire 100 DEFROGS tokens and paid a transaction fee of 0.178 ETH.
As the value of DEFROGS surged, the trader sold 60 tokens for 27.8 ETH. The remaining 40 DEFROGS tokens are currently valued at $100,000, resulting in a total profit of approximately $166,000.
ERC-404 Token Standard Gains Prominence
The success of these traders highlights the growing prominence of the ERC-404 token standard within the cryptocurrency ecosystem. This innovative standard merges the functionalities of ERC-721 and ERC-20, providing developers with enhanced liquidity for their projects.
Tokens built on the ERC-404 standard are gaining traction and capturing the attention of crypto enthusiasts worldwide.
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