Ethereum

MINER (OLD)

2024

DeFrogs

<p><strong>The ERC-404 represents a key evolution in Ethereum tokens. It offers developers and investors the opportunity to create and market tokens that combine the fungibility of ERC-20 and the uniqueness of ERC-721. This potential of the Ethereum crypto platform was exploited by a trader who managed to generate $59,000 by using this method.</strong></p> 
<h2 id="h-the-clever-use-of-a-known-crypto-method-within-the-ethereum-ecosystem">The clever use of a known crypto method within the Ethereum ecosystem</h2> 
<p>In the fast-paced world of crypto exchanges, where fortunes can be made or lost in the blink of an eye, a mysterious trader is making headlines. By leveraging the innovative ERC-404 MINER token, this crypto user managed to turn a single Ether (ETH), Ethereum’s native asset, into a staggering gain of $59,000. This, in just 11 hours.</p>
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<p>The strategy behind <a href="https://crypto.news/trader-turns-1-eth-to-59k-in-hours-with-new-erc-404-token/" target="_blank" rel="noreferrer noopener">this remarkable feat</a> reveals clever use of high gas fees in conjunction with the rapid buying and selling of the ERC-404 MINER token. The trader strategically timed his transactions, which allowed him to maximize profits and highlight the potential for earnings in the crypto market, despite its volatility.</p> 
<p>Specifically, the process was as intriguing as it was profitable. After withdrawing 1 ETH from the crypto exchange Binance, the trader allocated a fraction of his holdings, that is, 0.065 ETH, to purchasing MINER, at an apparently modest price. However, it was the use of a substantial amount of gas fees (0.802 ETH) that facilitated the explosion of assets.</p> 
<p>Subsequently, the crypto trader sold a portion of his MINER holdings, amassing 350 tokens worth about $15,000. This eventually enabled him to reach the total amount of $59,000. This rapid enrichment story is certainly astounding, but it is not unique.</p> 
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     <p lang="en" dir="ltr">Starting with only 1 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($2,507), this smart trader made $59K in 11 hours!<br><br>His secret to making money is buying and selling the <a href="https://twitter.com/hashtag/ERC404?src=hash&amp;ref_src=twsrc%5Etfw">#ERC404</a> token <a href="https://twitter.com/search?q=%24MINER&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MINER</a> using high gas!<br><br>He withdrew 1 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> ($2,507) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> and successfully spent 0.065 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($163) to buy 1073 <a href="https://twitter.com/search?q=%24MINER&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MINER</a> at a very… <a href="https://t.co/GQDiKupFee">pic.twitter.com/GQDiKupFee</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1756940311690092942?ref_src=twsrc%5Etfw">February 12, 2024</a>
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  <em>A crypto trader turns 1 ETH into $59,000 by exploiting the ERC-404 MINER</em>
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<h2 id="h-a-case-among-others">A case among others?</h2> 
<p>Last week, another anonymous crypto trader made over $166,000 in profits in just two days. This time, by similarly exploiting another token, the currently flourishing DeFrogs token. These successes underline the immense yield potential of the Ethereum ecosystem.</p> 
<p>However, the rapid ascent of ERC-404 tokens has not been without pitfalls. Because, despite the initial increases in value, the segment is now experiencing significant fatigue, with the market capitalization having dropped by 30% in the last 24 hours. A situation that reminds of the brutal volatility and inherent risk of crypto investments.</p> 
<p>Despite this, ERC-404 tokens still generate certain attractiveness in the world of crypto. This is due to the innovation they drive by combining elements of ERC-20 and ERC-721, which can yield tokens that are both fungible and unique in the long run. This is the case with the PANDORA token, for example.</p> 
<p>This enables Ethereum users to receive not only a tradable asset but also a unique non-fungible token (NFT). The fusion of fungibility and rarity adds an additional layer of value, potentially elevating these tokens beyond mere speculative instruments.</p>

Winning $60k in 11 hours? The crazy yet successful bet that a trader made with crypto

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