One trader has made over 27,600% profit by investing in Mimcoin created on the Ethereum (ETH) second layer blockchain.
According to Lookonchain, one smart trader turned $18,000 into $5 million (27,677% profit) after buying Degen (DEGEN) in January.
"By investing just 7.35 #ETH ($18,000) in DEGEN, this trader made ~$5M, or a 272x profit! He used 7.35 ETH ($18,000) to buy 260 million DEGEN on January 15 and 21. He then sold 102.5 million DEGEN for 1.26 million USDC, leaving him with 157.5 million DEGEN ($3.75 million).
DEGEN, which has a market value of $328.57 million, was trading at USD0.0258 at the time of writing, up 2.69% in the last 24 hours.
Lookonchain also noticed that early #BTC investors with a lot of money suddenly sold a large number of altcoins for huge profits.
One early ETH holder sold 17,770 ETH for 62.24 million DAI at $3,503 [March 27]. He accumulated 14,280 ETH (worth $2.6M) at an average price of just ~$182 on Gemini and Bittrex between March 2017 and April 2021.
Its profits totaled $59 million, which is 23 times that amount! "
At the time of writing, Ethereum is trading at $3,511 and has fallen in price by 1.50% in the last 24 hours.
Finally, Lookonchain noted that one investor quickly turned 50 Solaniums (SOLs) into 2,828 SOLs by trading the Mimcoin-based solanium-based Mimcoin "cat in a dog's world" (MEW).
"Starting with 50 #SOL , this trader turned it into 2,828 SOL ($531,000) in just two days.
Let's take a look at how he did it.
The trader found MEW 20 minutes before trading started and withdrew 50 SOL from MEXC to buy it. With 30 SOL, he bought 368.3 million MEW and sold 202 million MEW for 2,828 SOL ($530,000). He was left with 168.02 million MEW ($353,000), for a total profit of ~$BTC MEW is currently priced at $0.00548 and is up over 113% in the last 24 hours.
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