One smart trader turned an initial $12,300 investment into $1,720,000 in only 4 days trading cryptocurrency $PEW. The beginnings for 3.2 ETH are valued at nearly $12,300, according to Lookonchain data. Consequently, this individual was able to multiply this amount 140 times.
This trader made $1.72M in just 4 days by trading $PEW with only 3.2 $ETH($12.3K), a gain of 140x!He spotted $PEW 3 minutes after opening trading and spent 3.2 $ETH($12.3K) to buy 27.05B $PEW.Then he sold 8.05B $PEW for 83.5 $ETH($315K).He currently holds 19B $PEW($1.42M),… pic.twitter.com/stHqODkNWP
— Lookonchain (@lookonchain) June 1, 2024
$PEW Trader Nets $315K from Initial Sale, Keeps $1.42M
In another strategic development aimed at realizing his stakes, the trader sold 8.5 billion $PEW for 83.5 Ethereum ($ETH), which was around $315,000 at the time of the report. This first sale brought considerable amounts of money, but he did not stop there.
At the time of writing, the trader has 19 billion $PEW, which is worth approximately $1.42 million. In order to direct his belongings and potentially minimize exposure, he has spread 18 billion of these tokens into 15 separate wallets.
Rapid Crypto Gains Highlight Need for Strategy
This perfect example shows that there is a lot of money to be made in cryptocurrencies, so if you catch a good opportunity you can make a lot of money very quickly. The situation also demonstrates how critical timing and planning are in the largely unpredictable environment of cryptocurrency trading.
While such stories of gains are inspiring, the same also comes with an element of caution since trading in cryptocurrencies is not without its risks. It is not only essential to be as fast as possible when making decisions. However, it also important to have a clear plan dealing with unforseeable events within the market.