U.S. politician makes the most suspicious crypto trade ever
The post U.S. politician makes the most suspicious crypto trade ever appeared on BitcoinEthereumNews.com.
U.S. politicians usually buy stocks and cryptocurrencies they are accustomed to, such as Bitcoin (BTC) and Ethereum (ETH). However, Representative Mike Collins is an exception, as on July 11, Collins reported a purchase of cryptocurrency called Aerodrome Finance (AERO) worth $50,000. What is impressive is that since his purchase on July 6, AERO has surged by almost 50% from $0.5219 to $0.9316 in less than two weeks. AERO 7-day price chart. Source: CoinMarketCap Collins has already earned approximately $38,000 in less than two weeks, as his AERO holding is now worth $88,000. Notably, AERO’s market cap is less than $500 million, which is outside the top 200 cryptocurrencies. However, Since Collins’ purchase, its market cap has doubled from $272 million to $492 million at the time of writing. Previous crypto purchases by Collins weren’t so lucrative Just two months ago, on May 17, Collins invested $15,000 in another cryptocurrency called Velodrome Finance (VELO). However, this trade didn’t bring profits to the Representative, as he sold it just a month after purchase, on June 24, at a loss. Since his purchase, VELO depreciated from $0.138 to $0.10, meaning that the initial investment was worth approximately $10,870 at the time of sale. Seemingly, the Representative has missed the timing of his sale, as VELO recovered in price while adding 55.53% to its value in the previous seven days and now trades at $0.1055. VELO 1-year price chart. Source: CoinMarketCap Interestingly, this cryptocurrency shares the same development team as AERO based on VELO. This means their price performances could also be connected, albeit with a delay. Collins is a fan of cryptocurrencies In addition to the two most recent acquisitions of small-cap cryptos, Collins reported several Ethereum purchases around New Year’s for a total investment of $60,000. Although the Representative has yet to…
Filed under: News - @ July 17, 2024 10:26 am