A crypto trader earned $2.65M by selling 695M TURBO tokens, achieving a 10x increase after holding for 1.3 years.
TURBO token saw a 10x surge this year, peaking at $0.00978, and remains up 6% on the weekly chart despite a 2.39% recent drop.
The trader holds $142.8K in Ethereum and USDT, down 94%, but maintains a total Profit and Loss (PnL) of $2.575M with a +906% return.
A cryptocurrency trader has made a substantial profit despite recent market volatility. According to AI analytics platform SpotOnChain, the investor's success stemmed from holding a sizable portion of the TURBO token for more than a year. The trader paid an average of $0.0004 for over 897 million TURBO tokens in May 2023.
Notably, the investor recently sold 695 million tokens on the OKX exchange for $2.65 million after holding them for 1.3 years. An enormous profit for the investor is indicated by the fact that this is more than a tenfold increase from the initial purchase price.
TURBO Token Emerges as a Profitable Asset
Consequently, the trader's success story demonstrates how profitable the TURBO token, a well-known meme coin associated with artificial intelligence, may be. Even though TURBO is known as a meme token, it has shown tremendous growth this year and solidified its place in the market.
Furthermore, in the last year, the value increased by more than ten times, reaching an all-time high of $0.00978 just three months ago. At $0.003716, the token's current value represents a 2.39% decrease over the past day but a 6% increase over the previous week. This indicates that many traders still find TURBO to be a profitable asset despite the recent pressures on the market.
Overall, the cryptocurrency trader has made $1.1 million, even after suffering losses on other investments. The investor still owns $142,827 worth of USDT and Ethereum, but the recent decline in Ethereum's price has resulted in a 94% loss on these investments.
Despite this, the investor's overall profit and loss (PnL) is still positive, having increased by an impressive +906% to $2.575 million. The trader's portfolio also includes an unrealized PnL of $9,463, indicating the possibility of additional gains.
TURBO’s Role in the Broader Crypto Market
Notably, given that TURBO tokens outperform many conventional crypto assets, it is evident that AI-related meme coins are becoming more and more popular. The investor's success can be used as an example of how timing and market strategy can have a significant impact on cryptocurrency trading results.
Additionally, demand for the TURBO token has increased dramatically, which has helped it perform well in spite of the volatility of the market as a whole. It is evident that the trader made the right choice by holding onto the token for more than a year during a period when other investors lost money.
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