In an interesting display of strategic trading, four anonymous crypto addresses turned a $1,000 investment into a $1 million profit within a day, illuminating the volatile yet lucrative nature of the cryptocurrency market, reports LookOnChain.
Four anonymous addresses have executed a trading strategy that has yielded them a staggering profit of $1 million within a single day, all starting with an initial investment of just $1,000.
These four addresses, within a span of just four minutes, purchased 50 million $BALD tokens, which accounted for 50% of the total supply. The cost of this purchase was a mere 0.534 Ethereum ($ETH), equivalent to $1,000.
Following their initial purchase, the addresses then sold 37 million of their $BALD tokens. The sale was made for 554 $ETH, which translates to approximately $1.04 million. This means that within a single day, they managed to turn their $1,000 investment into a $1 million profit.
The Deployer’s Role
The deployer of $BALD played a significant role in the coin’s market. They added total liquidity of 727 million $BALD and 6,471 $ETH, which is equivalent to $12.15 million, to LeetSwap. As of now, the deployer holds 272.67 million $BALD, which is currently valued at $12 million.
For those interested in delving deeper into their transaction history, it can be found here.
This event serves as a stark reminder of the potential for high returns in the cryptocurrency market, but also the inherent risks and volatility. As always, it’s crucial for investors to do their due diligence and understand the dynamics of the market before making any investment decisions.
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