Trader Nets $140K in Minutes on Binance’s MOODENG Listing
The post Trader Nets $140K in Minutes on Binance’s MOODENG Listing appeared on BitcoinEthereumNews.com.
The cryptocurrency world is moving at a very fast pace, and being able to act on new listings can make or break a deal within minutes. A trader recently demonstrated this by buying the MOODENG perpetual contract on Binance and making $140,000 in less than 20 minutes. This also shows that with good timing on market movements, there can be nice short-term returns. A savvy trader has made $140K in less than 20 minutes by monitoring #Binance‘s new cryptocurrency listings! In the same second that #Binance announced the listing of the $MOODENG perpetual contract, he spent 1,300 $SOL to buy 2.77M $MOODENG and quickly sold for 2,109 $SOL,… pic.twitter.com/9hvN44IWLa — Lookonchain (@lookonchain) October 25, 2024 Timing the $MOODENG Listing On the 25th of October, 2024, Binance launches $MOODENG, which attracts people’s attention. The trader instantly bought 2.77M $MOODENG tokens for 1300 SOL. Due to the listed price increase, the trader immediately sold the tokens for 2,109 SOL and saw a profit of 809 SOL, which equaled $140K profit within minutes. This demonstrates how timing and speed are very important factors when investing in the very unpredictable cryptocurrency market. New listings on Binance attract high levels of volumes and adequate market depth, thus attracting fast-acting traders. Consistent Strategy: Previous Win with $GOAT This was not the first victory for the trader. Less than 24 hours before that, Binance launched the $GOAT perpetual contract. In a similar manner to the trader’s choice to immediately respond to a new listing, the trader was able to make 99 SOL value at $17,000. The back-to-back success highlights a winning strategy: focusing on the exchange announcements and executing trades to capture volatility. Monitoring Listings for Profitable Opportunities This case is an excellent example of how closely tracking new listings can be extremely rewarding. Since these traders…
Filed under: News - @ October 26, 2024 2:20 pm