The post Smartest trader or insider? Anonymous prints $3 million in profits twice appeared on BitcoinEthereumNews.com.

An anonymous smart trader printed over $3 million in profits twice, trading two different cryptocurrencies this month. While an analyst praised this address as the “smartest trader [he had] seen recently,” commentators speculate on being an insider. Essentially, a smart trader is an entity capable of making good trading decisions and accumulating gains instead of losses. Its definition relates to “smart money,” currently used to indicate financial professionals but previously related to positive gambling track records. The smart trader used the Solana (SOL) address ‘Aw1rq9VSY5SJisufnfmDJ6jAwJNx768EXypU15k8iVoW‘ and profitably traded two meme coins on Raydium. According to a Lookonchain post, it was “the smartest trader [they] have seen recently,” making over $6 million in profits. In summary, the address obtained a 117-fold return in a few days, trading $GOAT for a $3.45 million unrealized profit and an even higher 855-fold return in a few hours, trading $GNON for a $3.02 million unrealized gains. The trades: $GOAT and $GNON meme coins As reported, the “smartest trader” first purchased 11 million GOAT at a $2 million market cap, spending $30,000. He then made multiple sales totaling 3 million GOAT from October 12 to 16, amassing $279,000 of realized profits. Notably, the meme coin had a $396.1 million market cap by reporting time. This results in a $3.2 million remaining balance of 8 million GOAT still available for selling. GOAT/SOL on Raydium, 15-minute price chart. Source: dexscreener.com / Lookonchain Later on, the smart trader achieved a similar unrealized profit with an even more aggressive run, trading GNON. He purchased the memecoin at a $80,000 capitalization right after launch, paying $3,500 for 27.58 million GNON. So far, the address has sold 579,000 GNON for $7,000, doubling the initial investment, still holding $3.02 million worth of 27 million GNON at a $116.1 million market cap. GNON/SOL on…

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Filed under: News - @ October 19, 2024 11:25 am