Trader turns $1K into $750K trading Tron memecoin 'SunWukong'
The anonymous traderâs Sun Wukong holdings surged to $750,000 at its peak, but he hasnât sold a single token yet.Â
An anonymous trader on the Tron network turned an initial bid of $1,000 into over $750,000, trading a new Tron-based memecoin called SunWukong.Â
In an Aug. 21 post to X, blockchain data platform Arkham Intelligence shared that the trader purchased 43.8 million SUNWUKONG tokens for an initial price of $997.Â
The value of the SunWukong memecoin ballooned following a move from Tron founder Justin Sun to change his profile picture on X to an image of Sun Wukong â a character from a newly released Chinese folklore-based video game Black Myth: Wukong.Â
The game was launched on Aug. 20 and also notched records of its own, topping over 2.2 million concurrent users on the gaming platform Steam within its first 24 hours, cementing it as one of the most popular single-player game launches in the platformâs history.
According to DexScreener data, the token surged from a value of around $3,000 to as high as $17 million, a gain of over 566,500% in less than 12 hours.Â
The traderâs memecoin holdings went from being worth $1,000 to as much as $750,000 at peak during the rally.Â
The memecoinâs price has since slid 58% from its all-time high, and the token commands a market capitalization of $7.4 million at the time of publication.Â
But itâs all still paper gains for now.
Tronscan data shows the trader hasnât sold even a single SunWukong token. This puts their current holdings worth around $329,000 at the time of publication.
The trade comes amid outsized growth in Tron-based memecoin deployer SunPump, a protocol that draws its namesake from Sun.Â
#JustinSun #SUNWUKONG #MtGoxRepayments #TRON! #TRONâ
Pump.Fun| Solana
Only 3% of traders on Pump.Fun have made more than $1000
Only 3% of the traders purchasing tokens on Pump.fun made more than $1000. At the same time, less than 0.8% of the traders have made $10,000+ trading memecoins on the platform.
These figures from a Dune dashboard suggest that most traders on the platform havenât had any profitable trades despite the fact that thousands of tokens are launched on the platform every 24 hours.
60% of traders on Pump.fun lost money
A crypto influencer recently shared a pie chart of pump.fun trader data in an X post based on another post by a user with the handle @Adam_Tehc.
According to the chart, 60% traders have lost money, 4.7% of them made no money at all, while 24% of the traders made less than $100.
On the other hand, those who made more than $100 stand at 11.2%, and only 3% made more than $1,000. Even rare are the traders who made above $10,000 (0.5%). Likewise, it was pointed out that people who made $10k+ can be barely seen on the pie chart.
Only a small percentage of tokens on Pump.fun are graduating
In the last 24 hours, less than 160 tokens out of 10.7k tokens have actually graduated to Raydium from Pump.fun. The remaining either stayed stagnant or lost their volume and liquidity as traders rushed out to take profits or cut their losses.
This means that most tokens could not even hit a market cap of $60,000 after which the bonding curveâs funds would have transferred to a Raydium liquidity pool, and the token would have considered graduated.
Yet despite the fact that traders are becoming more doubtful about the memecoin super-cycle, the revenues generated by Pump.fun are nearing all-time highs. Between 10th August and 17th August, the platform made $6.3 million, double of the weekly average of $2.5 million in April.
This figure is 50% higher as compared to its average weekly revenues in May.
#pumpfun #solanAnalysis #SOLFI #Write2Earn! #BinanceSquareFamily
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đ Introduction to CARV:
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1. Post with the hashtag #CARVingTheFutureOfData
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đšRipple to pay the $125M fine to the SEC within 18 days!
This settlement marks a major moment in the Ripple vs. SEC saga. Initially, the SEC sought nearly $2 billion, but Ripple successfully reduced that amount to $125 million, which they plan to pay promptly. Rippleâs CEO, Brad Garlinghouse, called this a victory not just for Ripple but for the entire crypto industry.
The implications of this decision go beyond Ripple, providing more clarity around XRP's classification, potentially shaping future crypto regulations. Despite this, XRP has seen a slight dip in trading volume and price recently, but this news might trigger a resurgence in market activity!
Are you ready for what's next? đđ
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{spot}(XRPUSDT)
{spot}(XLMUSDT)
{spot}(BTCUSDT)
đLONG: $DOT (1W)
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Analysis: Polkadot's chart shows a double-bottom pattern, signalling a potential bullish reversal. After the 2021 ATH of $55 and a prolonged bearish phase, the recovery wave in 2023/24 is forming. Polkadot might reach a new ATH in 2025, driven by a projected bull market.
Price Targets: Short-term resistance is seen around $35. Mid-term, expect a surge to $87 and if the bull market persists, a long-term target of $144 by 2025. Fasten your seatbelts; we're looking at a potential rise to $139,311 by 2034! đ
$DOT #DYOR
{future}(DOTUSDT)
The Golem multi-signature address: 0x7d...6CF9, which raised 820,000 ETH in the ICO in 2016, transferred 4,000 ETH to Coinbase Deposit and Binance Deposit. Currently, the Golem multi-signature address: 0x7d...6CF9 still holds 22,834 ETH, worth about 59.81 million US dollars.
Bitcoin Funding Rate: A Crucial Indicator to Watch! 22 August 24
What is the Bitcoin Funding Rate? đ€
The funding rate is a critical percentage in future trading, balancing long and short positions to maintain price stability. It plays a pivotal role in the crypto world, especially for Bitcoin traders. As of 22 August 2024, 12:15 AM (Pakistan Time), here's the latest on Bitcoinâs funding rate:
Current Funding Rates for BTC:
Binance: -0.0002%
OKX: -0.0001%
dYdX: 0.0205%
These rates indicate that Bitcoin's funding rate is hovering close to the neutral zone, though there are slight variations across different exchanges. đ§
Highest Funding Rates Across Exchanges:
OKX BLOCK/USDT: 0.1828%
OKX KISHU/USDT: 0.1739%
Binance REEF/USDT: 0.0970%
OKX FITFI/USDT: 0.0939%
OKX ZENT/USDT: 0.0753%
Lowest Funding Rates:
Bitget BNX/USDT: -0.4682%
Bybit BNX/USDT: -0.4668%
Binance BNX/USDT: -0.3908%
OKX DMAIL/USDT: -0.3256%
Bybit ALPACA/USDT: -0.2704%
Why Does This Matter? đĄ
These funding rates reflect the market sentiment and potential volatility. The neutral to slightly negative rates suggest a cautious market, but any sudden shifts could signal trading opportunities.
Keep an eye on these figuresâthey might just give you the edge you need! đ
â
Like â€ïž | Comment đŹ | Retweet đ @khannamirr
#Fundamental_Analysis #Marketupdates #MtGoxRepayments #CryptoMarketMoves #Write2Earn!
Why Scalping Trade Can Be Profitable for You ?? đ«”
When it comes to trading, one method that often catches the eye of beginners is scalping. But what exactly is scalping, and why do so many traders find it profitable?
For Exampleđ:
https://www.tradingview.com/x/chOOyG4O/
đ€· What Is Scalping?
Scalping is a fast-paced trading strategy where you buy and sell financial assets (like stocks or currencies) within a very short time frame, usually seconds or minutes. The goal is to make small, quick profits multiple times throughout the day.
đ€ Why Scalping Can Be Profitable
1. Small Wins Add Up
In scalping, you aim for small profits on each trade. While these gains might seem tiny at first, when you do it many times a day, they can add up to a significant amount. Think of it like gathering coinsâyou might not notice them at first, but by the end of the day, youâve got a nice stack of change!
2. Limited Market Exposure
Unlike long-term trading where you hold positions for days, weeks, or even years, scalping reduces your exposure to market risks. By staying in trades for just a few minutes, you avoid the major market swings that can happen over longer periods.
3. Frequent Opportunities
The market moves constantly, creating numerous opportunities for quick trades. With scalping, youâre not waiting for that one big moveâyouâre capitalizing on lots of little ones.
How to Get Started with Scalping
1. Start Small
Since scalping is all about small profits, itâs wise to start with a small amount of money. This way, you can learn without risking too much.
2. Focus on Liquid Markets
Choose assets that are highly liquid (like major currencies or popular stocks). This means theyâre easy to buy and sell quickly, which is key for scalping.
3. Stay Disciplined
Itâs easy to get caught up in the excitement, but discipline is crucial. Stick to your plan and donât chase losses.
Scalping can be a profitable trading strategy if done right. Itâs all about making small, quick profits while limiting your risk.
**News Flash: Former FTX Exec Seeks to Void Guilty Plea**
Ryan Salame, ex-FTX executive, is challenging his guilty plea in a criminal case involving campaign finance and money-transmitting crimes. Salame claims prosecutors broke their promise not to investigate his fiancée, Michelle Bond, if he pleaded guilty.
- **Petition Filed:** On Aug. 21, Salame filed for a âwrit of coram nobisâ seeking post-conviction relief.
- **Guilty Plea:** Salame pleaded guilty to two felony charges in September 2023.
- **Allegations:** He argues the government implied it would drop the investigation into Bond, which has since resumed.
- **Claims of Coercion:** Salame says the plea was unlawfully coercive and seeks either dismissal of charges against Bond or to withdraw his plea.
- **Sentencing:** Salame was sentenced to 7.5 years in prison and is set to begin his term on Oct. 13.
Stay tuned for updates on this unfolding legal battle.
Bitcoin 4-Hour Analysis: Whatâs Next for BTC? đ22 August 24 !!
Curious about Bitcoin's next move? Let's dive into the latest 4-hour analysis to see what the charts are revealing. This could be crucial for new investors!
Support & Resistance Levels:
Support: The immediate support is hovering around $58,500, a key level to watch if the price starts to dip.Resistance: The nearest resistance sits around $61,500, a barrier that BTC needs to break for a bullish run.
RSI (Relative Strength Index):
The RSI is currently near 50, indicating a neutral market. It's neither overbought nor oversold, so the next move could be decisive.
MACD (Moving Average Convergence Divergence):
The MACD line is slightly crossing above the signal line, but without a strong bullish crossover. This suggests that momentum is weak, and the market could go either way.
Volume:
Volume is low, confirming that thereâs no significant buying or selling pressure at the moment. This often precedes a major move.
Fundamental News:
Keep an eye on macroeconomic factors like inflation and the US economyâs performance. The upcoming CPI report could introduce some volatility in the market.
Stay tuned as these indicators could signal the next big move for Bitcoin! đ
â
Like â€ïž | đŻïž Comment đŹ | â»ïž Retweet đ @khannamirr
#Marketupdates #CryptoUpdates #MtGoxRepayments #Write2Earn! #CryptoMarketMoves
#Educational Post
Candlesticks
Candlesticks are a visual representation of the size of price fluctuations. Traders use these charts to identify patterns and gauge the near-term direction of price.
A daily candlestick shows the market's open, high, low, and close price for the day. The candlestick has a wide part, which is called the "real body."
This real body represents the price range between the open and close of that day's trading. When the real body is filled in or black, it means the close was lower than the open. If the real body is empty, it means the close was higher than the open. $BTC #dogs $dogs
Investors flock to Rollblock presale as it surpasses $2.25M
Rollblock presale surges to $2.3M, as analysts foresee 100x gains, overshadowing modest ETH and BNB returns
Investors are going bananas for the Rollblock (RBLK) new iGaming crypto presale, pouring in close to $2.3 million in liquidity. Ethereum price action has been unimpressive lately, while BNB could hit a new ATH soon, but with modest returns.
The Rollblock (RBLK) iGaming powerhouse is disrupting the $450 billion gambling empire with its unparalleled profit-sharing strategy and massive growth trajectory. Analysts predict RBLK price could explode past 100x on launch, leaving small gains to ETH and BNB.
Ethereum posts unspectacular price action
Investors expected Ethereum to rocket above $5k in the recent bull run, but ETH only managed $4k in March. Even with the launch of the Ethereum ETF on July 23, the ETH price refused to surge past $3.5k.
Ethereum woes were aggravated by the Aug. 5 crypto bloodbath, pushing it down to the $2.1k region. ETH has since recovered to trade in the $2.6k zone but has been struggling to rise and hold above the $2.7k resistance.
A growing number of ETH holders are rebalancing their portfolios with the new iGaming crypto presale for gigantic returns.
Investors flock to Rollblock presale as it surpasses $2.25M
Rollblock presale surges to $2.3M, as analysts foresee 100x gains, overshadowing modest ETH and BNB returns
Investors are going bananas for the Rollblock (RBLK) new iGaming crypto presale, pouring in close to $2.3 million in liquidity. Ethereum price action has been unimpressive lately, while BNB could hit a new ATH soon, but with modest returns.
The Rollblock (RBLK) iGaming powerhouse is disrupting the $450 billion gambling empire with its unparalleled profit-sharing strategy and massive growth trajectory. Analysts predict RBLK price could explode past 100x on launch, leaving small gains to ETH and BNB.
Ethereum posts unspectacular price action
Investors expected Ethereum to rocket above $5k in the recent bull run, but ETH only managed $4k in March.