A cryptocurrency trader achieved an extraordinary profit within an hour by trading $CTO with his $SOL, according to Lookonchain. The trader earned 4,721 $SOL marking a 94-fold gain. The value of this profit is equivalent to $802,500.
A trader made 4,721 $SOL($802.5K) on $CTO in just 1 hour, a gain of 94x! đ±@RaydiumProtocol launched a #MEMEcoin $CTO on @makenowmeme about 1 hour ago.This trader spent 50 $SOL($8.5K) to buy 256.8M $CTO and was the 3rd address to buy $CTO.He then sold 227.67M $CTO for 4,771⊠pic.twitter.com/rSKOTVknx7
â Lookonchain (@lookonchain) August 1, 2024
Raydiumâs CTO Memecoin Yields Massive Gains
On the makenowmeme platform, Raydium Protocol has recently launched a Memecoin called $CTO. It also makes it possible to launch new coins through a tweet, and itâs all free of charge.
The trader invested 50 $SOL, which equates to roughly 8,500 U.S. dollars to purchase 256,800,000 $CTO, thus becoming the third address to own $CTO. After that, he sold 227.67 million $CTO for 4,771 $SOL, equal to $811,000. This transaction gave a net profit of 4,721 $SOL or $802500.
Trader Nets $104K Profit from $PFI Investment
The same trader made another hefty profit earlier in the day from trading $PFI. With an investment of as little as 20 $SOL, about $3,400, he earned 612 $SOL, worth $104,000. This brought him 30 times return on his investment.
Such remarkable transactions, reported by Lookonchain, show the potential of great earnings in the cryptocurrency market, especially with new and popular coins like $CTO and $PFI. The traderâs story proves that there is a lot of money to be made in this unpredictable and constantly transforming financial environment. This is because more platforms and coins are being developed and traders are on the lookout for such high returns.