Lookonchain experts reported that an unknown trader was able to make a profit of $4.5 million on the Vine token (VINE). This success was preceded by a number of unprofitable trades on exchanges.

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According to analysts, the trader initially spent 20 Solana (SOL) to buy 1 million VINE, but shortly before the start of the price rally, he sold the tokens for 23 SOL.

After waiting for another drawdown, the investor again purchased the coin and continued to increase his position. In total, the trader purchased 26.6 million VINE for 1463 SOL ($374,000). At some point, the value of his assets decreased by $270,000 (-70%).

However, despite the losses, the trader continued to keep the asset on his balance sheet, and at the moment his unrealized profit exceeds $4.5 million.

It should be noted that the Vine coin itself was created by Rus Yusupov, co-founder of the mobile application of the same name, which appeared in 2012. At the same time, it was bought by Twitter (NYSE:TWTR), a company banned in Russia. Later, the service could not withstand competition from Instagram, Snapchat (NYSE:SNAP) and YouTube, and in October 2016 it was closed for uploading new videos.#USConsumerConfidence #VineToken