An anonymous trader with the address 0x166 recently executed an extremely lucrative trade by investing in the booming Polkadot competitor, Peapods Finance. According to on-chain data analyzed by Spotonchain, the savvy trader swapped 25 ETH (approximately $55,000) for 125,963 PEAS tokens on December 17th.
Significantly, the trader spread their investment across two wallets, perhaps to diversify risk:
0x075cF48F59a4FcEfc090C1fc62107d9F5a5107ef
0x4ebf823b7b42d177111efef0be5334d1bac1c6cb
Besides the initial investment, the current value of those tokens now exceeds $800,000. Consequently, the estimated profit and loss amounts to an impressive $838,000, representing a 1,673% return in about one month.
Additionally, the price of PEAS itself skyrocketed by 4,800% from its low to an all-time high reached on January 28th. Hence, the trader wisely began locking in profits by selling 28,029 PEAS worth approximately $151,277 from December 30th until now. Nonetheless, the wallet still holds a sizable position of 96,605 PEAS, now valued at $783,000.
Moreover, PEAS may have further room to run according to recent updates. The token was listed on the Poloniex exchange per an announcement from the Crypto Exchange Listing Bot on the X platform (formerly Twitter}.
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Show more +At the time of writing, Peapods Finance’s PEAS token is trading at $10.39, according to the latest data from CoinMarketCap. Besides surging over 12% in the last day alone, PEAS has seen immense trading volume exceeding $3.4 million over the past 24 hours. Hence, substantial interest and momentum are driving the formerly obscure Polkadot competitor.
In contrast, Polkadot’s native DOT token has headed in the opposite direction lately. Polkadot is priced at $6.71, declining nearly 3.6% over the same 24-hour period per CoinMarketCap.
This trader’s well-timed bet on the overlooked Polkadot challenger PEAS generated life-changing returns over a short period. Their continued holdings suggest further upside if PEAS sees additional adoption.
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