In a fantastic turn of events, an unknown trader has turned $95 into $96900 in 12 hours through the recently released cryptocurrency INCEPT. This is over 1000x return that is now making waves in the crypto space as the value of $INCEPT skyrocketed within a few hours. It is hard to believe such explosive growth, even in the most volatile world of crypto.
Unbelievable!Turned $95 into $96.9K in just 12 hoursâmore than a 1000x return!Many of the wallets that made ~1000x profit on $INCEPT appear to be insider wallets. They were all created 4 days ago and have only traded $INCEPT.https://t.co/AvNHFbRjpO pic.twitter.com/aOm3z1VXAx
â Lookonchain (@lookonchain) September 26, 2024
The Astounding Trade
According to Lookonchain, one wallet with the address 0x5âŠ3B8 bought 75 $INCEPT tokens for 95.53 USD. The trader sold tokens in 14 transactions within 12 hours and earned a total of $96.9K, which means the trader gained a profit of approximately 100000%.
This, however, is not the only incident that happened. Multiple traders made similar amounts. For instance, another investor made $89.4k out of $93, another good example of $INCEPTâs growth potential. The reason speculated for this increase in value is associated with the technology supported by the token, including the multi-layered structure.
What Makes INCEPT Unique?
$INCEPT doesnât fall into the category of traditional tokens, which are one-dimensional. Developed on Ethereumâs ERC-4D standard, the platform combines several layers into one token. ERC-4D combines three existing Ethereum token standards into one:
⊠ERC-20 (fungible token)
⊠ERC-721 (NFT)
⊠ERC 6551 (Token Account or wallet)
This opens up new applications not previously seen in the crypto industry. With $INCEPT, users can store tokens, NFTs, assets, data, or more ERC-4D tokens inside the $INCEPT due to the ERC-6551 wallet integration. This multi-layered structure adds a new level of flexibility and liquidity, meaning that almost any asset can be tokenized and given a marketplace.
However, the main novelty that ERC-6551 introduces is cyclical ownership. In this model, the wallet acquires ownership of the ERC20 token that created it. This creates a chance for new interesting applications, like automated self-governance or DeFi.
Insider Trading Speculation
Nevertheless, the fast growth of INCEPT also raises certain concerns. As claimed by Lookonchain, most of these wallets were launched four days ago and only engaged in $INCEPT trading. This has raised speculation attributed to either insider trading or a coordinated pump by a set of people. So far no investigationâs official, but the crypto world is understandably watchful, especially due to the magnitude of these gains.Â
While some of these traders have made huge profits already, it is important for new investors to be cautious. For now, as is evident from the trading, this token symbolizes the high-risk and high-reward nature of the crypto world.
