Ethereum

TRUMP

MAGA

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 <p>New on-chain data reveals that one lucky trader is seeing a more than 86,000% gain on his Ethereum (ETH)-based memecoin investment.</p>
 <p>According to blockchain tracking firm Lookonchain noticed, one investor bought $6,500 worth of the MAGA (TRUMP) late last year and is now sitting on $5.6 million worth of funds.</p>
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 <p><em>“The trader ‘waxl.eth’ turned $6,500 to $5.6 million with TRUMP, a gain of 870x! He spent $6,500 to buy 2.08 million TRUMP via two wallets and sold 1.24 million TRUMP for $902,000, with 832,000 TRUMP ($4.7 million) left.” </em></p>
 <p>The MAGA memecoin, founded in August 2023 and based on former US President Donald Trump, currently has a market cap of $298.3 million, making it the 234th ranked digital asset. TRUMP is trading for $6.40 at time of writing, up more than 51.9% in the last 24 hours.</p>
 <p>The sudden surge in value comes as Trump reportedly made pro-crypto remarks on May 8th during a dinner event he hosted in Mar-a-Logo for supporters who bought non-fungible tokens (NFTs) from his “Mugshot Edition” collection.</p>
 <p>During the event, Trump announced that he would be accepting crypto donations towards his presidential campaign.</p>
 <p>Lookonchain also noticed another trader who is sitting on $4.4 million in profits through buying TRUMP after purchasing hundreds of thousands of the meme asset in December 2023 and January 2024.</p>
 <p><em> “The address tagged ‘GCR: Address 1’ spent 703,460 USDT to buy 936,279 TRUMP at $0.75 from December 8th, 2023 to January 18th, 2024, and now has a floating profit of $4.4 million!”</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/lucky-crypto-trader-sees-ethereum-memecoin-investment-surge-in-value-by-a-staggering-86-000-on-chain-data-tbt87965.html">https://thebittimes.com/lucky-crypto-trader-sees-ethereum-memecoin-investment-surge-in-value-by-a-staggering-86-000-on-chain-data-tbt87965.html</a></p>

Lucky Crypto Trader Sees Ethereum Memecoin Investment Surge in Value by a Staggering 86,000%: On-Chain Data

TheBitTimes

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