A dealer is seeing over 27,600% in earnings after investing in a memecoin launched on the Ethereum (ETH) layer-2 scaling resolution Base.
In line with blockchain monitoring agency Lookonchain, one sensible dealer turned $18,000 into $5 million – a achieve of 27,677% – after buying Degen (DEGEN) in January.
“Solely invested 7.35 ETH ($18,000) on DEGEN, this dealer made ~$5 million, a achieve of 272x! He spent 7.35 ETH ($18,000) to purchase 260 million DEGEN on January fifteenth and January twenty first. Then offered 102.5 million DEGEN for 1.26 million USDC, with 157.5 million DEGEN (3.75 million) left.”
DEGEN, which has a market cap of $328.57 million, is buying and selling for $0.0258 at time of writing, up 2.69% within the final 24 hours.
Lookonchain additionally noticed {that a} deep-pocketed early Ethereum investor all of the sudden offered a large quantity of the highest altcoin for enormous earnings.
“An early holder of ETH offered 17,770 ETH for 62.24 million DAI at $3,503 [on March 27th]. He gathered 14,280 ETH (price $2.6 million) at a median value of solely ~$182 from Gemini and Bittrex from March 2017 and April 2021.
The revenue is $59 million, a achieve of 23x!”
Ethereum is buying and selling for $3,511 at time of writing, down 1.50% within the final 24 hours.
Lastly, Lookonchain spotted one investor rapidly turning 50 Solana (SOL) into 2,828 SOL by buying and selling Solana-based memecoin cat in a canines world (MEW).
“Beginning with solely 50 SOL, this dealer turned it into 2,828 SOL ($531,000) in simply two days!
Let’s see how he did it.
The dealer noticed MEW 20 minutes after opening buying and selling and withdrew 50 SOL from MEXC to purchase it. He spent 30 SOL to purchase 368.3 million MEW and offered 200.2 million MEW for two,828 SOL ($530,000). He nonetheless has 168.02 million MEW ($353,000) left, and the overall revenue is ~$877,000.”
At time of writing, MEW is price $0.00548, up over 113% prior to now day.
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