Trader Turns $12K Ethereum Investment into $3.3M
In a remarkable display of crypto trading, a trader successfully transformed an initial investment of 5 Ethereum (ETH) approximately $12,000 into $3.3 million. This financial was accomplished through transactions involving the PepeFork (PORK) token.
A recent beginner to the cryptocurrency market inspired by the viral Ethereum-based meme token PEPE. Lookonchain analysts highlighted this transaction in a February 2 update, showcasing the traders ability to capitalize on the market effectively.
The trader embarked on this profitable journey by purchasing 9.5 trillion PORK tokens shortly after the coins trading debut on February 1. Following a surge in value of over 450% in two days, the trader sold 6.3 trillion PORK tokens for 329 ETH, equating to about $765,000.
Despite this sale, the trader retained 3.2 trillion PORK tokens, valued at around $2.55 million. The rapid ascent of PORK to the ninth largest meme coin, with a market capitalization of $200 million, underscores the high-risk, high-reward nature of meme coin investments.
Also read: Superstate Launches Tokenized Treasury Fund on Ethereum
Read more: https://mcc.exchange/2024/02/04/trader-turns-12k-ethereum-investment-into-3-3m/
Text source: MCC.EXCHANGE
