Trader converts 4 SOL into 2,250 SOL in 5 days and makes R$1.2 million profit. understand
Starting with an initial investment of 4 SOL, one cryptocurrency trader created approximately 2,250 Solana coins (SOL), worth US$245,000 (R$1.2 million), in 5 days. At the time, it cost about US$400 (about R$2,000).
To achieve this feat, i.e. to multiply his tokens by 563 times, the trader bet on the meme cryptocurrency called BORK 10 minutes after it was minted on the Solana network. More details can be found in blockchain analyst Lookonchain’s profile
“He found $BORK 10 minutes into the trade, bought 1.2 billion $BORK using 4 $SOL, and then sold 888 million $BORK for 1,454 $SOL. He currently holds $311.4 million in BORK (800 $SOL),” Lookonchain wrote on Wednesday morning (3).
Profile highlight BORK is up more than 600% in the previous day alone amid a broad rally in memecoins on the Solana network.”
This trader made ~2,250 $SOL ($245K) from 4 $SOL in 5 days, a 563x profit! He discovered $BORK within 10 minutes of opening the trade, bought 1.2 billion $BORK using 4 $SOL, and then sold 888 million $BORK for 1,454 $SOL. He currently has $311.4 million ($800 SOL) remaining. https://t.co/K8YE4vOaRZ pic.twitter.com/at67CVs0Y0 — Lookonchain (@lookonchain) January 3, 2024
Solana’s Memecoin Rally
The memecoin craze has sparked profit-taking by early investors in the project, and as the price rises, initial positions are likely to earn significant returns, a Cryptopotato post said.
Last month, the site reported, another Solana investor made nearly $2 million by investing just 1.5 SOL in memecoin Silly Dragon (SILLY) just five minutes after the token hit the market.
According to the publication, the trader exchanged approximately US$62 worth of SOL at the time for 43 million SILLY tokens, the price of which skyrocketed over the next 22 days.
Last month, another trader made a profit of around R$500,000 with the Dogwifhat (WIF) meme cryptocurrency after making an initial investment of US$1,000 (then R$4,900).
A few days later, the same memecoin made another millionaire who made a profit of about R$7 million in 5 days after betting about R$1.1 million.
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