While the cryptocurrency market is gaining new momentum, some traders are making news with their profits in a short time. A crypto trader managed to convert 13 SOLs into 9,718.5 SOLs in a short period of time. Thus, the trader made a profit of 2.5 million dollars. This trader made a 750-fold return by selling Slopfather (FATHA) tokens at their peak. The altcoin price increased by 4000 percent, reaching a market capitalization of $38 million in 24 hours.
Trader made a profit of $2.5 million on this altcoin trade
As you have been following on Kriptokoin.com, the excitement in the market is growing. A crypto trader converted 13 SOL (about $3.3k) into 9,718.5 SOL. The trader made a profit of $2.5 million by trading 76.46 million Slopfather (FATHA) tokens. On November 23, the trader bought the tokens on Pump.fun. Within 40 minutes, FATHA’s market capitalization rose to over $60 million. After holding the tokens, the trader sold them at the high point, earning a 750x return.
The trader took advantage of the rapid market change and capitalized on the opportunity to make a significant profit. According to Solscan, 9,500 SOLs were exchanged for USDC and bridged to Ethereum. This shows how quickly significant profits are being made in the volatile meme coin market. This transaction reflects the growing influence of meme coins on the Solana Blockchain. On-chain data suggests that the wallet involved in this transaction may belong to BT (@cooksassistant), who traded 60 tokens in the last three days. With a 42.37% win rate, BT made a total profit of USD 2.7 million.
FATHA token surge and Solana’s meme coin boom
Slopfather (FATHA) market capitalization rose to $38 million. The altcoin was currently changing hands at $0.03841. This rise allowed the crypto trader to make a huge profit. The 24-hour trading volume was $156 million, reflecting a 4000% increase in the last 24 hours. This dramatic rise shows the growing demand for meme coins in the crypto market. Solana Blockchain is becoming the best platform for meme coin launches. Projects like PNUT, WIF, GOAT and BONK are leading the way. In addition, Arthur Hayes’ backing of the Solana-based FLOWER coin has spurred interest and enabled the growth of meme coins on Solana.
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