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<p>In another story of making millions from Solana meme coins, a trader has managed to secure a $2.1 million profit in less than 20 minutes on the Solana blockchain.</p>
<p>The tweet shared by <a href="https://x.com/lookonchain/status/1805265442837262514" target="_blank" rel="noopener noreferrer nofollow">Lookonchain</a>, has sparked discussions about market manipulation, insider trading, and the risks associated with investing in new crypto projects.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="415" src="https://captainaltcoin.com/wp-content/uploads/2024/06/image-944-1024x415.png" alt="" class="wp-image-514799" srcset="https://captainaltcoin.com/wp-content/uploads/2024/06/image-944-1024x415.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-944-300x122.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-944-768x311.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-944-1536x622.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-944-2048x830.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-944-370x150.png 370w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-944-100x41.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-944-864x350.png 864w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-944-788x319.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-944.png 622w" sizes="(max-width: 1024px) 100vw, 1024px">
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<h2 class="wp-block-heading" id="anatomy-of-a-high-stakes-trade">Anatomy of a High-Stakes Trade</h2>
<p>Lookonchain provided a detailed breakdown of the trade:</p>
<ol>
 <li>A new wallet was created just 5 hours before the trade.</li>
 <li>Funds were withdrawn from the Bybit exchange to this wallet.</li>
 <li>The trader spent 16,900 SOL (approximately $2.1 million) to purchase 612.23 million $WATER tokens.</li>
 <li>This purchase represented 22.71% of the pooled $WATER tokens.</li>
 <li>The buy order was executed in the same block where the deployer added liquidity.</li>
 <li>Within minutes, the trader sold all acquired $WATER tokens for 39,279 SOL (approximately $5 million).</li>
</ol>
<p>The entire operation, from purchase to sale, was completed in less than 20 minutes, resulting in a net profit of 22,379 SOL, valued at about $2.9 million at the time of the trade.</p>
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<h2 class="wp-block-heading" id="community-reaction-and-concerns">Community Reaction and Concerns</h2>
<p>The cryptocurrency community has reacted swiftly to this incident, with many expressing concerns about potential insider trading or market manipulation. Two prominent voices in the Solana ecosystem shared their thoughts:</p>
<p><a href="https://x.com/saracrypto_eth/status/1805267063834886293" target="_blank" rel="noopener noreferrer nofollow">Sarah Milady</a>, a well-known figure in crypto Twitter, warned:</p>
<ul>
 <li>The $WATER token is likely to experience a major price drop.</li>
 <li>She interpreted “red” as indicating insider activity and “sniper” referring to the trading strategy employed.</li>
 <li>Milady predicted that $WATER’s price would eventually drop to zero.</li>
</ul>
<p>Guney, a Solana developer, <a href="https://x.com/guneysol/status/1805260816708477422" target="_blank" rel="noopener noreferrer nofollow">echoed</a> these sentiments, emphasizing the likelihood of a “dump” on retail investors and reiterating the interpretation of “red” and “sniper” terminology.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1006" height="1024" src="https://captainaltcoin.com/wp-content/uploads/2024/06/image-945-1006x1024.png" alt="" class="wp-image-514808" srcset="https://captainaltcoin.com/wp-content/uploads/2024/06/image-945-1006x1024.png 1006w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-945-295x300.png 295w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-945-767x781.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-945-1509x1536.png 1509w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-945-2012x2048.png 2012w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-945-147x150.png 147w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-945-100x102.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-945-344x350.png 344w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-945-788x802.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/06/image-945.png 663w" sizes="(max-width: 1006px) 100vw, 1006px">
</figure>
<p>While the trader in question managed to secure an impressive profit in a remarkably short time, this event serves as a cautionary tale for the community. While some has managed to make millions with lucky trades like this, hundreds has also lost a considerable amount of money by investing in scam coins.</p>
<p><strong><em>Read also:&nbsp;</em></strong><a href="https://captainaltcoin.com/ripples-xrp-will-surpass-ethereum-here-are-3-reasons-according-to-crypto-analyst/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Ripple’s XRP Will Surpass Ethereum – Here Are 3 Reasons According to Crypto Analyst</em></strong></a></p>
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<p>The post <a href="https://captainaltcoin.com/crypto-trader-earns-2-1-million-in-solana-with-an-early-buy-in-less-than-20-minutes/" rel="noopener noreferrer nofollow">Crypto Trader Earns $2.1 Million in Solana With an Early Buy in Less Than 20 Minutes!</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Crypto Trader Earns $2.1 Million in Solana With an Early Buy in Less Than 20 Minutes!

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