Are Ethereum Tips Useful? This Smart Trader Made Over $2 Million in 12 Hours With This Altcoin
A crypto trader executed an ingenious trading strategy that netted over $2 million in profits in just 12 hours according to onchain analytics firm, Lookonchain. The trader, whose wallet address was shared publicly, paid a tip of 35 ETH (valued at $95,000 at current prices) to obtain early access to a new altcoin called AIUS.
Armed with insider knowledge about the new token, the trader strategically invested 60.1 ETH (worth $165,000) to acquire 6,842 AIUS tokens at the outset. In 12 hours, the price of AIUS skyrocketed, allowing the trader to sell 6,152 tokens for a staggering 581 ETH, valued at $1.6 million.
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Realizing Massive Gains
After cashing out the majority of their position, the trader retained 690 AIUS tokens, valued at approximately $644,000 according to the latest market price. Hence, the total profit amounted to $1.43 million from an initial investment of $165,000. Additionally, the remaining AIUS tokens represent unrealized gains of around $644,000.
Implications for Crypto Trading
This example underscores how profitable it can be to get early access to promising new crypto projects. Paying tips in ETH to gain insider information before the public can lead to outsized returns. However, realizing these outsized returns necessitates an in-depth understanding of technical analysis to identify ideal entry and exit points.
Sophie Anderson, a cryptocurrency analyst, remarked that this trade demonstrates the high-risk, high-reward nature of the crypto markets. In her words, “it requires deep market understanding” to execute trades with this level of precision and profitability.
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Show more +While the potential rewards are huge, sniping unknown altcoins is an extremely high-risk endeavor. This particular trader executed flawlessly, but such explosive gains are more the exception than the norm. Still, for seasoned traders with ample risk tolerance, the profits can be life-changing, as evidenced by this trader’s $2 million 12-hour coup.
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