How This Savvy Trader’s $1,247 Bet Yielded $2.1 Million from Solana (SOL) and this Other Crypto Token
An anonymous trader successfully transformed an initial investment of $1,247 into $2.1 million as per onchain data firm Lookonchain. This significant increase, amounting to a 1,730-fold gain, was realized through carefully chosen investments in two cryptocurrencies: Solana (SOL) and Siacoin (SC).
What you'll learn 👉
The Shrewd Move
The trader spotted the opportunity with Siacoin just five hours after its trading opened. With a keen eye for potential, they invested 6.6 SOL (worth $1,247 at the time) to purchase 33.6 million SC tokens.
As Siacoin’s value surged, the trader’s gains exceeded 100x. However, unlike many who would have cashed out at this point, this investor remained patient. They held their position, even as the gains surpassed 1,000x, a level where most would have sold.
The Calculated Exit
Finally, when the gains exceeded 1,730x, the trader made a calculated move. They sold 4.6 million SC for 768 SOL, netting a substantial $145,000 profit. Notably, they still hold 29 million SC tokens, currently valued at $2 million.
Siacoin is the native token for Sia, a decentralized cloud storage platform allowing users to rent unused storage space. Besides, this innovative project has garnered significant attention within the crypto community, contributing to SC’s price performance.
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Show more +Market Snapshot
According to data from CoinMarketCap, at the time of this writing, Solana’s price stood at $188.55, up 3.24% in the last 24 hours. Siacoin, on the other hand, traded at $0.010456, with a 1.34% increase over the same period.
This incredible story showcases the potential rewards of strategic investing, coupled with patience and a keen eye for opportunities in the dynamic cryptocurrency market.
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