#ETH-ETF Crypto Trader Makes $6.7 Million In 3 Hours With Ethereum Token, Here’s How

One crypto trader has been making the rounds on social media after making more than $6 million in profit on the Ethereum blockchain. This incredible trade took place in less than a day, translating to an almost 600% gain for the whale trade. So how did they do this?

Crypto Trader Makes $6.7 Million In 3 Hours

According to Lookonchain, an on-chain data tracker, a single wallet has made almost $7 million off a particularly hyped launch in the last day. The project, Satoshi VM which is a Layer 2 network for the Bitcoin blockchain, launched on Thursday amid much fanfare as it was shilled by some notable influencers in the space.

The IDO was oversubscribed as 47,000 participants registered, and only a small percentage of people got in. For those who got in, the gains have run up as influencers continue to push the coin, crossing the $100 million market cap mark in a matter of hours.

At the time of writing, the Ethereum-based token had reached a peak of $14.8, with a market cap above $150 million. At this price, the IDO participants were recording an over 250x return on investment. However, the price has since retraced to $11.6, putting the market cap at $120 million at the time of this writing.