In an incredible demonstration of cryptocurrency market knowledge, a trader from Solana (SOL) has accomplished something that many others in the digital currency industry can only imagine. Utilising just 18 SOL (about $1,758), the trader made an incredible 400 times return on their initial investment in just five hours by earning 7,197 SOL, or roughly $703,000.
Lookonchain, a well-known blockchain analysis X (previously Twitter) account, initially revealed this amazing accomplishment by providing information about the transaction. The trader’s windfall, according to the tweet, originated from a wise investment in FartCaster, a recently listed cryptocurrency.
https://x.com/lookonchain/status/1754028130510225414?s=20
The trader obtained 55.1 billion FartCaster tokens with just 18 SOL, which is an incredible amount that amounts to 55.1% of the token’s total supply. This audacious move was made in the same block that the deployer began trading FartCaster, suggesting that the investment was made at a smart and well-timed entry point.
Strategic moves
The trader received a substantial return on their initial investment when they sold 53.94 billion FartCaster tokens for 7,215 SOL, which accounted for the majority of the profit. The trader still has 1.16 billion FartCaster tokens, which are worth around $27,000, despite this significant sale, indicating that they may have some future value or that they are holding them as a precautionary measure in case the price moves higher.
The trader’s aggressive trading approach, which involves buying a sizable chunk of a new token’s supply at trading debut and selling it soon for a profit, shows that careful timing, in-depth market analysis, and a healthy dose of luck are all necessary for successful trading. It serves as a sobering reminder of the “high risk, high reward” characteristics that characterise bitcoin trading.
Because of its quick transaction times and cheap fees, the Solana blockchain has grown to be a popular choice for developers and traders alike, enabling the type of quick and big deals that this event demonstrates. This trading success story might draw additional interest in Solana’s ecosystem by emphasising how well it can handle large cryptocurrency investments and transactions.
