The post Trader Makes 2,570x Profit With Just 30 SOL appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. According to data provided by the “Smart Money” tracker @lookonchain, an anonymous cryptocurrency trader has made a healthy profit of more than 2,570x on 30 Solana tokens within the past six days. Trader makes huge gains using SOL The thing to keep in mind here is that the aforementioned trader did not make his 2,570x profits buying and selling SOL itself. He used 30 SOL tokens to buy 16 billion ANALOS. He then sold 14.5 billion ANALOS from several addresses, earning 3.45 million USDC stablecoins. As of now, the trader continues to hold 1.56 billion Solana, which is equal to $2.34 million, left in four of his blockchain wallets. In total, the trader’s profit constitutes $5.7 million within six days made on just $2,220 worth of Solana. ANALOS (analoS) is a meme cryptocurrency based on the Solana chain, and earlier this week it demonstrated an astounding surge by 148% and a weekly price jump of 268%. At the time of this writing, the coin is changing hands at $0.001544 after a 19% downswing. Actually, ANALOS was launched just about a week ago, and within that short period of time the meme coin built on the Solana network managed to reach a market capitalization of $185.5 million, and now it is down to $154.37 million, according to data…

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Filed under: News - @ December 26, 2023 11:10 pm