A Trader Turned 60 SOL Coin To $1.26 Million In Two Month, An Insider Trade?
A trader turned 60 SOL, which amounts to about $8,673, into an impressive $1.26 million. This represents a gain of 144 times their initial investment in just two months.
The SOL Trader Invested in $HAMMY
The trader used their SOL to buy 24.8 million HAMMY tokens for $0.00035 on March 10 to achieve the March 10. After about a month, the price of HAMMY rose to $0.007, and the trader’s gain exceeded 20 times their initial investment.
Despite this, the trader did not sell their holdings for a quick profit. It wasn’t until May that the trader decided to sell 12.8 million HAMMY tokens for 2,711 SOL, which amounts to approximately $401,000. The purchase price was $0.0313 per token.
The trader had 12 million HAMMY tokens, which were worth $858,000 at the time. The trader made a total profit of $1.25 million on HAMMY.
It is worth noting that some traders who make such “legendary bets” may have an unfair advantage, such as insider information or access to developer tools or sniper bots at launch.
To put these successes into context, it’s essential to highlight the investments that didn’t pan out and to guarantee developers were not responsible for such lucky trades.
Dormant Bitcoin Address Becomes Active With $40 Million Gain
In a recent development, a dormant Bitcoin address came alive in profits of over $40 million following over a decade of inactivity.
On-chain data posted on X reveals that the wallet has not been involved in any transactions since January 12, 2014, when it received 687.33 BTC.
It is worth noting that back in 2014, the price of Bitcoin was $917, so the total value of the crypto received by the wallet at that time was $630K.
However, in the years that followed, the value of Bitcoin soared, and by 2024, the unknown trader who activated the dormant address had made a staggering 63 times more than their original gain in 2014.
This is a testament to the incredible growth and potential of the cryptocurrency market and a reminder of its volatility and unpredictability.
