One lucky trader is looking to make huge profits after Solana-based memecoin (SOL) surged more than 1,200% in just three weeks, according to on-chain data.
Blockchain tracking firm Lookonchain says a Beercoin (BEER) presale participant just made more than $1 million in profits.
“One BEER pre-sale participant sells beer, and has made a total profit of $1.3 million on BEER!
This guy spent 301.2 soles ($50,000) to participate in the pre-sale and got 3.38 billion beers. He then exchanged 5.45 billion buns ($192,000) for 1.86 billion beers on May 26.
After listing BEER on Gate.io, he deposited $240 million ($120,000) into Gate.io to make a profit. 4.6 billion beers sold ($1.34 million) [June 14th] He has 400 million beers ($109,000) left over, for a total profit of over $1.3 million!
BEER was trading at $0.000018 on May 24, and at the time of writing was worth $0.000245, a gain of 1,261%.
Lookonchain also reported that a cryptocurrency whale is making huge profits on his holdings of Pendle (PENDLE), which allows users to tokenize and sell future returns.
“The whale deposited 755,000 PENDLE ($3.83 million) into Binance for a profit on June 11. The whale withdrew 5.02 million PENDLE ($2.73 million at the time) from Binance on August 18, 2023, when the price was $0.54. He currently has 4.27 million PENDLE ( $21.7 million) remaining, for a total profit of $22.8 million (+834%)!
Pendle is trading for $4.93 at the time of writing, down slightly over the past 24 hours.
Finally, Lookonchain says one cryptocurrency investor made a 1,110% profit in just eight days after purchasing Mother Iggy (MOTHER) tokens, the cryptocurrency project of Australian rapper Iggy Azalea.
“He spent $777,000 to buy 50.35 million MOTHER from May 29 to June 1 and has held it until now, which is currently worth $9.4 million.”
MOTHER is trading at $0.13 at the time of writing, down approximately 7% over the past 24 hours.
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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