2024

April

<p>An unidentified<a href="https://www.cryptopolitan.com/crypto-trader-turns-13000-into-over-2-mi/" rel="noopener noreferrer nofollow"> crypto</a> investor turned $9,770 into an overall figure of $10 million in one day. This happened alongside the emergence of a new currency, $GUMMY.&nbsp;</p>
<h2 class="wp-block-heading" id="crypto-trader-timely-entry-and-distribution">Crypto trader timely entry and distribution</h2>
<p>Before releasing the world’s first Internet currency on the blockchain, an investor withdrew 65.23 SOL from the MEXC exchange. He spent almost all the sum on token purchases and got 97.36 million $GUMMY tokens. This<a href="https://twitter.com/lookonchain/status/1782073395829690596" rel="noopener noreferrer nofollow" target="_blank"> occurred </a>a few minutes before $ GUMMY was introduced, and thus, it occurred at the same time as the offer, indicating probably either market foresight or insider information access.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Sniper or insider?<br><br>This guy turned $9,770 into $10M in just 1 day, a gain of 1,025x!<br><br>12 minutes before <a href="https://twitter.com/search?q=%24GUMMY&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$GUMMY</a> was deployed, this guy withdrew 65.23 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$SOL</a> from <a href="https://twitter.com/hashtag/MEXC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#MEXC</a>.<br><br>Then spent 64.5 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$SOL</a>($9,769) to buy 97.36M <a href="https://twitter.com/search?q=%24GUMMY&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$GUMMY</a> in the same block where the <a href="https://twitter.com/search?q=%24GUMMY&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$GUMMY</a> deployer added liquidity.… <a href="https://t.co/a9VDyPDQAI" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/a9VDyPDQAI</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1782073395829690596?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">April 21, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The individual invested 64.52 SOL ($9,769) to purchase 97,359,534 tokens of $GUMMY. These two transactions arose from the same block in the blockchain blocks within which the liquidity was added first, thereby indicating a high sense of precision and timeliness in recording the trade.</p>
<p>A new investor distributed the GUMMY to different types of crypto wallets, which added an additional degree of complexity to the investor’s tactic of transferring the holdings instead of selling them immediately. It appears that the investor intends to build a lasting equity position or was trying to avoid drastic fluctuations in the market price by selling just a portion of the holding at the moment.</p>
<h2 class="wp-block-heading" id="implications-and-market-response">Implications and market response</h2>
<p>The investor’s real-time acknowledgment of the cryptocurrency ($GUMMY) and the just-in-time market entry also raise doubts about the use of insider information in this transaction. The close provision of funds, the new currency purchase before launch, and what experts piece together are worth noting. Then, analysts’ theories about money transfers in terms of transparency and regulation are bound to surface.</p>
<p>Whether this was an instance of just exceptional market comprehension or if more suspicious means had been paramount, the deal embodies the volatile and, at times, unforeseeable nature of cryptocurrency trading. The business community and the governing agencies could take this scenario together as an indication to develop and enforce stricter controls for fair competition in the digital finance sector.</p>
<p>This event, by the same case, symbolizes the capability of great profitability in the cryptocurrency market even though it highlights the risks and ethical considerations related to the trade of novelties in the virtual currency market.</p>

Crypto trader turns $9,770 into $10 million during crypto launch

Table of Contents

Cryptopolitan_News

Other articles published on Apr 21, 2024

Understanding Solana’s $796M Loss: Potential Impact on SOL’s Future

Grayscale Launches Mini Version of Bitcoin Trust

Polkadot (DOT) Launches Runtime Upgrade And The Unexpected Happened

Exploring Bitcoin’s Recent Surge in Value and Market Forecasts

Dogecoin prediction; DOGE paints classic pattern ahead of breakout

Cathie Wood's Ark Buys More Of Its In-House Spot Bitcoin ETF Ahead Of Halving, Pauses Tesla Buying

Join our free newsletter for daily crypto updates!