A news and insights provider on crypto, Lookonchain reports about this incident and mentioned that the trader has gained around 36,067x returns over his UFD investment.

UFD or Unicorn Fart Dust is a memecoin based on the Solana blockchain which was created by a boomer who is a gold and a silver maxi.

Some traders with good experience and knowledge about crypto trading strategies have gained a handsome profit.

Despite the nature of cryptocurrency being highly volatile, traders can be witnessed as highly interested in it. Trading any cryptocurrency requires a complex investment process along with various strategies, the right timing, recognizing opportunities, and many more to gain remarkable profits. 

Clearing all the routes, there are some incidents where traders get heavy returns in just a short span of time. Recently, a crypto trader invested around $90 in a recently developed Solana meme coin and gained $3.25 million in profits after the token went up to 5,500%. 

A news and insights provider on crypto, Lookonchain reports about this incident and mentioned that the trader has gained around 36,067x returns over his UFD investment. It is noteworthy that the profit is gained in a time span of just two days. After this incident, the industry is still in shock. 

UFD or Unicorn Fart Dust is a memecoin based on the Solana blockchain which was created by a boomer who is a gold and a silver maxi. Soon after the $Fartcoin reached a market capitalization of $500 million, the creator decided to introduce his own memecoin to troll the crypto industry. 

How was the year 2024 for traders?

This is not the first time that an investor has made such big returns, recently another whale has gained around 5 million from the PENGU airdrop. The whale accumulated 116.7 million PENGU from the PENGU airdrop and gained a significant profit. 

In the beginning, the worth of the token was $394k, with a price of $0.003375. Apparently, the price for the same amount of tokens is $4.2 million as of now. This massive price growth is driven by a 630% jump since its launch on December 18, 2024. There are a lot more incidents that have driven significant profits. 

Last month, Lookonchain reported that a trader purchased around 89.9 million $ELIZA tokens for 7.84 $SOL, holding a value of around $1,800 at that time. Shockingly, in just a couple of hours, they sold about 49.49 million $ELIZA for 7,091 $SOL, with a whopping price of $1.72 million. 

At the beginning of this month, another trader converted $3,000 to $73 million by entering the Pepe market early, as reported by Lookonchain. 

Conclusion

Cryptocurrency is an extensive industry including a major sector, Crypto trading, which eventually accelerates billions of trades. Some trades give significant profits, while others result in losses. This shows that unpredictability and volatility are other significant aspects of this industry, which makes trading even more challenging. 

Some traders who have good experience and know about crypto trading strategies have gained a handsome amount of profit, similar to the abovementioned trader who invested in Unicorn Fart Dust (UFD) and converted his $90 to $3.25 million. 

It is advisable to do good research along with some technical analysis before investing in order to draw an outstanding profit. 

Binance is one of the largest cryptocurrency exchanges in the world, offering a wide range of services for buying and selling various digital assets. If you've been trading on Binance and want to cash out your profits, you may be wondering how to withdraw money directly to your bank account. This guide will walk you through the process step by step.
Step 1: Complete Your KYC Verification
Before you can withdraw funds from Binance, you'll need to complete the Know Your Customer (KYC) verification process. This step is crucial to comply with regulations and to ensure the security of your account.
Log into your Binance account.Go to the "Profile" icon located at the top right corner.Select "Identification" from the dropdown menu.Follow the on-screen instructions to upload the required documents (such as an ID and proof of residence).Wait for your documents to be reviewed and verified. This may take a few minutes to a few days, depending on the volume of requests.
Step 2: Convert Your Crypto to Fiat (If Necessary)
If you have cryptocurrencies in your Binance wallet that you’d like to withdraw as cash, you’ll first need to convert them to fiat currency (e.g., USD, EUR, etc.).
From the Binance dashboard, go to the "Trade" menu.Select "Classic" or "Advanced" trading options based on your preference.Choose the trading pair that corresponds to your crypto (e.g., BTC/USD).Once on the trading interface, you can choose the amount of cryptocurrency you want to sell and execute the trade.After the trade is completed, the fiat currency will be credited to your fiat wallet on Binance.
Step 3: Withdraw Funds to Your Bank Account
Once you have the fiat currency in your Binance fiat wallet, you can proceed to withdraw it to your bank account.
Click on the "Wallet" option in the top menu, then select "Fiat and Spot."Locate the fiat currency you wish to withdraw and click on "Withdraw."Select the "Bank Transfer" option.Fill in your bank account details, including your bank name, account number, and any other required information. Make sure to double-check these details to avoid errors.Enter the amount you wish to withdraw and review any transaction fees.Confirm the withdrawal. You may be asked to complete a two-factor authentication (2FA) process for security purposes.Wait for the confirmation. Withdrawal times will vary based on your bank and region, but it typically takes anywhere from a few minutes to a few days for the funds to appear in your account.
Step 4: Check Your Bank Account
After completing the withdrawal process, the last step is to check your bank account to ensure that the funds have arrived. If the expected amount hasn’t arrived after a reasonable timeframe, you can check the withdrawal status on Binance by going back to the "Wallet" section and looking at your withdrawal history.
Tips for Successful WithdrawalsCheck Fees: Binance may charge fees for withdrawals to bank accounts, depending on your location and the method you choose. Make sure to check these fees prior to initiating the withdrawal.Use Valid Account Information: Always ensure that the bank account information you provide is valid. Rejected transactions can lead to delays and complications in getting your funds back.Keep Your Account Secure: Activate two-factor authentication (2FA) on your Binance account to add an extra layer of security.
Conclusion
Withdrawing money from Binance directly to your bank account is a straightforward process once you've completed KYC verification and converted your cryptocurrencies to fiat. By following the steps outlined above, you can easily access your funds as cash in your bank account. Always stay informed about the latest features and guidelines from Binance to ensure a smooth trading and withdrawal experience.