Solana

Jupiter

Silly Dragon

Bitcoin

Dragon

The global digital asset market is moving ahead printing green indexes all around over. The cumulative crypto market cap jumped by 2% on Thursday to breach the $1.64 trillion mark. The ongoing <a href="https://news.todayq.com/bonk-steals-spotlight-as-bitcoin-eyes-45k/" target="_blank" rel="noreferrer noopener">Bitcoin (BTC) surge</a> helped altcoins to cover a huge margin. However, on-chain data depicts that a trader smartly turned $92 into $1.55 million amid the ongoing meme coin frenzy. Solana trader makes big move Data provided by LookonChain, a trader started with only 1.5 Solana (SOL) ($92) on December 5 and has since turned it into a whopping $1.55 million within a mere 16 days. 
As per the data, the trader’s journey began by using 0.7 Solana (approx worth $42) to acquire around 20.5 million Silly Dragon (SILLY) tokens. After holding onto the investment for two weeks, the price of SILLY registered a peaking rise. This led the trader to sell approximately 5 million SILLY for $202,575. However, the trader retains 15 million SILLY, valued at $1.35 million in around two wallets. 
The overall profit from this strategic move amounts to a staggering $1.55 million. This shows the remarkable potential for gains in the ongoing bullish rally. 
The Silly Dragon coin launched on December 5 registered an extraordinary 900% surge within two days of its debut. This took its market cap from zero to nearly $10 million within weeks. The token witnessed $30 million in trading volumes on the Swap, Jupiter decentralized exchange, during this rapid ascent. Why SOL is surging? 
Solana’s native token, SOL recorded a notable 13.8% surge on December 20, surpassing $82 for the first time since May 2022. Over the past two weeks, this impressive rally catapulted SOL to surpass XRP in market capitalization. Solana has secured its position as the fourth-largest cryptocurrency, excluding stablecoins. 
The ongoing success of Solana’s network, marked by increased network activity and swift launches of SPL tokens, raises questions among analysts about the sustainability of Ethereum’s Ether in its leadership role. Solana’s offering of cost-effective, rapid transactions is becoming a formidable competitor. 
While these developments contribute to the overall positive sentiment, a more in-depth analysis is required to assess whether the current valuation is justified and if a further rally beyond $100 for $SOL is a plausible outcome. The crypto community eagerly awaits insights into the sustainability and potential future trajectories of these impressive market dynamics. 
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This trader turns 1.5 Solana into $1.55 million in 16 days, Here’s how

Todayq News

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