Ethereum

DeFrogs

Elon Musk

<p class="is-style-lead">An unknown trader earned $166,000 from the growth of the DEFROGS cryptocurrency in just two days.</p> 
<p>Lookonchain analysts say the trader spent 0.26 Ethereum (<a href="https://crypto.news/price/Ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) to buy 100 DeFrogs coins (DEFROGS), with the user paying 0.178 ETH —about $423 — in gas fees, before selling 60 DEFROGS for 27.8 ETH, approximately $67,000.</p> 
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   <p lang="en" dir="ltr">In just 2 days, this trader made $166K with only 0.26 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a>($613)!<br><br>This trader spent only 0.08 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a>($190) to buy 100 <a href="https://twitter.com/hashtag/DEFROGS?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#DEFROGS</a> using a high gas of 0.178 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a>($423), then sold 60 <a href="https://twitter.com/hashtag/DEFROGS?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#DEFROGS</a> for 27.8 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a> ($67K).<br><br>He currently has 40 <a href="https://twitter.com/hashtag/DEFROGS?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#DEFROGS</a>($100K) left, the total profit is ~166K! <a href="https://t.co/g0VtlKoKGM" target="_blank">pic.twitter.com/g0VtlKoKGM</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1755473148978622717?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 8, 2024</a>
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<p>The user still has 40 DEFROG coins left at their disposal, leaving a total profit of $166,000 for the trader. </p> 
<p>Some speculate that insiders could be responsible for the profits, with one comment on X suggesting that it is often developers of a project who reap the rewards early when a new coin increases in value. </p> 
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   <p lang="en" dir="ltr">On devs make money</p>— Faketoshi Nakamoto🐐 (@Faketoshi_) <a href="https://twitter.com/Faketoshi_/status/1755474243817529481?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 8, 2024</a>
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<p>According to <a href="https://crypto.news/tag/CoinMarketCap/" target="_blank" rel="noreferrer noopener">CoinMarketCap</a>, over the past 24 hours, the token has risen by more than 85%, increasing in price to $2,930 at the time of writing.</p> 
<p>At the same time, DEFROGS, a meme coin created based on the PEPE crypto project, launched only on Feb. 7. The developers claim that DEFROGS is a token of the new ERC-404 standard, which combines the properties of cryptocurrency and non-fungible tokens. As part of the project, the team has initially issued 10,000 tokens.</p> 
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  Source: CoinMarketCap
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<p>Earlier, an unknown trader <a href="https://crypto.news/pork-token-turns-into-huge-gains-for-one-trader/" target="_blank" rel="noreferrer noopener">purchased</a> 5 ETH ($11,715) worth of PORK tokens seven minutes after trading opened and earned $3.3 million in three days. Of the 9.5 trillion PORK purchased, the trader sold 6.3 trillion PORK for 329 ETH (about $765,000). The remaining 3.2 trillion PORK the trader is holding is worth approximately $2.55 million in unrealized gains.</p> 
<p> You might also like: <a href="https://crypto.news/trader-turns-4-3-eth-into-1m-after-elon-musk-became-cto/"> Trader turns 4.3 ETH into $1m after Elon Musk became CTO </a> </p>

Memecoin craze sees one trader reap over 100k in profits on newly listed DEFROG

crypto.news

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