An Anonymous Trader Makes $5.7 Million in 6 Days
An anonymous trader managed to turn a $2,220 investment of 30 Solana tokens (SOL) into an astonishing $5.7 million in just six days. This incredible feat was achieved through a series of strategic trades, resulting in a remarkable 2,570 percent return.
The Meme Coin Purchase
According to blockchain analysts Lookonchain, on December 20, an unknown user purchased 16 billion ANALOS, a meme coin based on Solana with the project’s name spelled upside down. This transaction took place within the first minute of trading opening on Raydium, a decentralized platform on Solana.
The Profitable Trades
After acquiring the ANALOS coins, the trader sold 14.5 billion ANALOS to various addresses for $3.45 million. The remaining 1.56 billion ANALOS, valued at $2.34 million, were kept in the trader’s four wallets. Overall, this resulted in a staggering increase of 2,570%, generating a profit of over $5 million for the trader.
Solana’s Growing Popularity
Solana has seen a surge in popularity recently, with monthly active and new addresses reaching yearly highs in December. The price of SOL has also been rising steadily throughout the year, reaching $118 on December 24 for the first time since April 2022. Currently, SOL is trading just above $114, representing an impressive 890% increase for the year.
Other Cases of Rapid Enrichment
This is not the first instance of traders making significant profits from new tokens. In December alone, there have been several cases of traders earning substantial amounts in a short period. For example, one trader purchased Coq Inu tokens (COQ) for $454 and earned $2.19 million in just two weeks. Another trader made over $1.5 million by investing approximately $226,000 in Dogwifhat (WIF), another meme coin on the Solana network.
Hot Take: An Anonymous Trader’s Massive Profit
An anonymous trader has achieved an astonishing return on investment, turning $2,220 into over $5.7 million within six days. By strategically trading meme coins based on Solana, the trader managed to generate a remarkable 2,570% increase in value. This success story highlights the potential for rapid enrichment in the cryptocurrency market, where significant profits can be made in a short period. It also showcases the growing popularity of Solana and its associated tokens, attracting traders seeking lucrative opportunities. As the crypto industry continues to evolve, we can expect more stories of traders capitalizing on new tokens and making substantial gains.
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