Solana

Million

The post <a href="https://coinpedia.org/news/solana-trader-achieves-1-68-million-profit-in-just-two-weeks-heres-how/">Solana Trader Achieves $1.68 Million Profit in Just Two Weeks: Here’s How</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
A crypto trader has achieved an exceptional stunt: He made over $1.68 million of realized profits in just 15 days by trading in the <a href="https://markets.coinpedia.org/category/solana-ecosystem/" target="_blank" rel="noreferrer noopener">Solana ecosystem</a>. The trader reportedly spent 23 SOL worth $3,300 to buy two meme coins on Solana and then sold all his positions for 11,229 SOL, which was valued above $1.69 million.&nbsp; 
<h2 class="wp-block-heading" id="h-how-exactly-did-the-trader-make-such-massive-profits">How exactly did the trader make such massive profits?</h2> 
The crypto insider used 7.1 SOL and 16 SOL to buy HULK and GUNIT, respectively. Firstly, multiple addresses acquired 190.2 million HULK with $1,200 worth of Solana and held them for 15 days. These addresses then sold the entire position for 5,760.7 SOL, worth $974,200, recording an 810x gain over the initial investment, where he made 973K in profits. 
For GUNIT, the trader spent 16 SOL worth $2,100 to buy 366.92 million of the crypto. Eight hours later, when the meme coin witnessed a massive surge, the trader sold all his stack, which resulted in 5,475.5 SOL worth $719,800, recording a notable 343x increase in his holdings.&nbsp; 
While he bought these tokens through multiple addresses, he transferred all the profits of 11,229 SOL to a single account with the address ‘4uh969…5sBV9i’ and transferred 3,070 SOL to a Kraken address, to likely realize the profit in fiat.&nbsp; 
<h2 class="wp-block-heading" id="h-was-this-an-insider-job">Was this an Insider Job?</h2> 
While the trade highlights the potential for exponential gains in the volatile crypto market, Lookonchain has classified it as an insider job as the purchases were made immediately after the tokens’ liquidity pools launch. The platform reported the incident recently in a <a href="https://x.com/lookonchain/status/1804348965279940673?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1804348970510250369%7Ctwgr%5E7d6ff79ca86c736b9a219525ae29041226082258%7Ctwcon%5Es2_&amp;ref_url=https%3A%2F%2Fblockchainreporter.net%2Finsider-makes-1-69m-profit-in-two-days-with-minimal-investment%2F" target="_blank" rel="noreferrer noopener nofollow">post </a>on X on June 22 by tracking on-chain data from multiple addresses. 
Such heavy gains are a part of this industry, and many cases associated with <a href="https://coinpedia.org/price-analysis/solana-memecoins-in-focus-will-pepecoin-and-wif-price-overcome-their-losses-this-week/" target="_blank" rel="noreferrer noopener">Solana meme-coins</a> have come forward this year. This insider trading is yet another example of how insiders take advantage of information asymmetry and create hype around newly launched cryptos in the market by also benefiting from the pump-and-dump schemes. 
Also Check Out: <a href="https://coinpedia.org/news/institutional-investors-offload-690-million-in-bitcoin-and-ethereum-favor-altcoins/" target="_blank" rel="noreferrer noopener">Institutional Investors Offload $690 Million in Bitcoin and Ethereum, Favor Altcoins</a>&nbsp;

Solana Trader Achieves $1.68 Million Profit in Just Two Weeks: Here’s How

目次

CoinPedia News

2024年6月24日公開の他の記事

Football legend Ronaldinho eyes crypto return, despite past controversy

Mark Cuban Sells 11.43 WETH in NFTs

Million Dollar Support for Bitcoin from Asia's MicroStrategy!

BTC Price Might Drop To $60K; Here’s Why

Cathie Wood’s Vote for Trump: Will Crypto Win Him the US Elections 2024?

Dogwifhat Trading Volumes Comes Crashing Down, ETH Remains In The Red, Investors Look To Raboo To...

ニュースレターを購読して暗号資産の最新情報を毎日入手！