A crypto trader recently made over $1.5 million in less than an hour, according to Lookonchain. This impressive profit came from a savvy trade involving the $SOL and $FRIC tokens.
Making over $1.5M in less than an hour—a massive profit!This trader spent 25 $SOL($6.3K) to buy 297M $FRIC(29.7% of the total supply) and sold 258M $FRIC for 4,693 $SOL($1.18M), leaving 39.08M $FRIC($380K)!Address:7aiyRXL33ggHpiTNEeRDuSFbDPotbdyArFgCcgDUpVkt… pic.twitter.com/guShdAw1DB
— Lookonchain (@lookonchain) November 25, 2024
Cryptocurrency Trader Turns $6.3K into $1.5 Million in Under an Hour
The trader initially invested 25 $SOL, approximately $6.3K, to acquire a whopping 297 million $FRIC tokens. These tokens were equivalent to 29.7% of the total supply which clearly explained the trader’s dominance in the market. The timing of the purchase was very good since $FRIC value was used to get out of it shortly after at a profit.
In less than an hour, the trader exchanged 258 million $FRIC tokens for 4,693 $SOL, which is equivalent to $1.18 million. It gave an instant and massive payoff on the investment outlay that was made on this sale. But the trader did not pull out of the market completely. After the sale, they were left with 39.08 million $FRIC tokens, which today are worth approximately $380K. Overall, the trader made more than $1.5 million of net profit out of this ultra-short time operation.
Crypto Success Story Proves High Returns Are Possible, But Risks Are Real
This deal, reported by Lookonchain, shows that there is capacity for a huge pump in the risky world of crypto trading. But it also stresses on the dangers, as such big volumes can turn very quickly in the opposite direction. Still, the trader’s experience proves that high returns can be achieved if a trader is careful with their actions and makes correct decisions at the right time in crypto trading.
