While the crypto market was experiencing liquidity shortages during the holiday season, one trader managed to turn his $2,137 investment into a profit of $3.2 million in just 10 hours.
This impressive feat was achieved with the newly launched metaverse token Hyperfy (HYPER). Blockchain analytics platform Lookonchain announced the transformation on its X platform on January 6:
"Turned a $2,137 investment into $3.24 million in 10 hours—a 1,515x return! So far, the trader has sold a total of 17.88 million HYPER, making 10,286 SOL ($2.21 million) and still holding 4.12 million HYPER ($1.03 million)."
Hyper was launched on the Raydium platform at 01:45 UTC on January 6 as a utility token for the metaverse and gaming world. The token’s price quickly reached an all-time high of $0.26 after its launch, before falling to $0.19. According to Raydium data, the token’s market value currently exceeds $198 million.
Big Gains in the Crypto Market
Despite the general correction in the crypto market, some traders continue to make big profits. In late December, another trader made $1.1 million in two days with a 5x leveraged Ethereum (ETH) short position. Also, on December 14, a trader managed to leverage the Pepe (PEPE) memecoin rally and turn a $27 investment into $52 million. PEPE became the second best-performing crypto asset of the year, with a return of over 1,600% in 2024.