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Home»ETHEREUM NEWS»Here’s how one cryptocurrency trader made $8.3 million from $100 on the Ethereum L2 network.
ETHEREUM NEWS

Here’s how one cryptocurrency trader made $8.3 million from $100 on the Ethereum L2 network.

By Crypto FlexsApril 5, 20243 Mins Read
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Here’s how one cryptocurrency trader made .3 million from 0 on the Ethereum L2 network.
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The cryptocurrency space is filled with stories of successful individuals. millionaires and billionaires by Cryptocurrency Token Trading. This time, it was revealed that another individual made $8.3 million in just 6 days.

How did this trader earn $8.3 million?

On-chain analytics platform Lookonchain has been released as X (formerly Twitter). post Anonymous cryptocurrency trader Larp von Trier turned 0.1 ETH ($353) into $8.3 million in January 2019. Layer 2 network based. He is said to have made a return of 23,770 times his investment in $KEYCAT. Meme Coin on BaseIt was still trading at a market cap of $2,200.

Von Trier spent $353 to buy $1.3 billion worth of $KEYCAT tokens (13.16% of the total supply of tokens), then sold 344.7 million $KEYCAT through two wallets for 497 ETH ($1.75 million) . Traders still hold $971.2 million in KEYCAT (9.71% of the total supply of the token) in six different wallets. The token is currently reportedly worth around $6.64 million.

The deal appears to have been a breakthrough moment for Von Trier, as Lookonchain further revealed that the anonymous cryptocurrency trader wasn’t having much luck with his investment. meme coin Before now. Before purchasing $KEYCAT, Von Trier purchased two other Base meme coins, $NORMIE and $NORMILIO, losing $820 and $9,700 in the two transactions.

The revelations about Von Trier’s lucrative trading drew mixed emotions from members of the cryptocurrency community. part assert While others think it must be some kind of insider trading, Praise Considering what it takes to invest such an amount in a meme coin with such a market cap is his trading skills.

Another day in cryptocurrency

Bitcoinist too recently reported About the meme coin trader who turned $1,800 into $11 million by investing Dog We Pot (WIF) It was still trading below $0.2. Unlike Von Trier, this trader attempted to transfer his holdings on paper, but was unable to offload the WIF tokens, so he declined to sell and ended up holding them instead.

meme coin We will continue to provide a means for cryptocurrency traders to make huge amounts of money in a short period of time. This is mainly because meme coins are more volatile than existing crypto tokens on the market and can quickly go from 1 to 100 in the blink of an eye.

today, Solana and Bass These are likely to be the two major chains where meme coin trading will peak. In particular, Base Trading volume surges Because of this meme coin craze.

ETH price above $3,300 | Source: ETHUSD on Tradingview.com

Featured image from Coinpedia, chart from Tradingview.com

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