Successful Crypto Trader Earns $6.9 Million in $BONK Profits, Invests in 3.29 Billion Additional Tokens

Crypto Trader Makes Millions Trading $BONK

If you’ve been following the crypto markets, you might have heard about the trader who recently made $6.9 million trading the Solana-based meme-inspired cryptocurrency $BONK. But what you might not know, is that the trader has reinvested an additional $40,000 worth of Solana’s native SOL token into the meme-inspired token. Let’s dive into the details.

On-Chain Analysis of the Trader’s Investments

So just how much of $BONK are we talking about here? According to on-chain analysis service Lookonchain, the trader has bought an additional 3.29 billion BONK tokens, bringing his nine-month accumulation of the cryptocurrency to 371.4 billion BONK. The tokens, according to the service, cost the trader 6,998 SOL worth around $276,000.

Trader Sells Half Amid Price Surge

But that’s not all – the trader has, according to blockchain data, sold half of their BONK token when the cryptocurrency’s price surged significantly, for 50,139 SOL tokens worth over $5.2 million. The question is, where is $BONK now and where is it headed?

Surge of the $BONK Cryptocurrency

If you’re looking for a cryptocurrency that has shown potential, $BONK might be it. The cryptocurrency has surged more than 4,200% with part of its success being attributed to it being based on Solana, a layer-2 cryptocurrency that has surged significantly over the past year. And it’s important to note that institutional investors are backing it up.

Success of $BONK Based on Arbitrage Opportunity

Here’s an interesting fact: the cryptocurrency helped Solana’s Saga phone sell out late last year. How? Through a lucrative airdrop of 30 million BONK tokens available to each new owner of the phone. The cryptocurrency’s team is actively promoting is as the first Shiba Inu-themed Solana-based cryptocurrency that is “for the people, by the people.” Sounds promising, doesn’t it?

Hot Take

If you’re looking into new cryptocurrency investments, BONK could be the one to keep an eye on given its recent surge and backing from institutional investors.