Interesting trade stories continue to emerge in the cryptocurrency market. On-chain analytics platform Lookonchain reported that a trader earned $1.25 million by spending 82 SOL to acquire 26.8 percent of the supply of the Solana coin BUZZ token. The trader spent 49 SOL to get a first-mover advantage in the BUZZ token launch. Token sniping requires timing precision but can yield extraordinary returns in volatile crypto markets.
Trader profits $1.25 million in 8 minutes with Solana coin!
According to blockchain analytics platform Lookonchain, a crypto trader sniped BUZZ tokens from the Solana coin, generating a remarkable profit of 6,008 SOLs worth approximately $1.25 million in just 8 minutes. This profit highlights the exciting yet risky opportunities in the fast-moving crypto world. Lookonchain brought this impressive trade to light. In this context, it showed that the trader spent 82 SOL worth $17,000 to buy 268.12 million BUZZ tokens. This amounted to 26.8% of the total token supply.
Someone earned 6,008 SOL ($1.25 million) by sniping BUZZ in just 8 minutes This trader spent 82 SOL ($17,000) to acquire 268.12 million BUZZ (26.8%) and paid a transaction fee of 49 SOL to make the initial purchase. Then, in 8 minutes, he sold all the BUZZ for 6,090 SOL ($1.26 million), earning 6,008 SOL ($1.25 million).
However, to secure the first-mover advantage, the trader paid a transaction fee of 49 SOLs, ensuring that he was one of the first to buy the tokens. Once the BUZZ tokens were purchased, the trader moved fast. In just 8 minutes, he sold all his holdings for 6,090 SOLs, equivalent to $1.26 million. After eliminating initial investment and transaction fees, the trader made a profit of $1.25 million.
The role of Sniping in crypto trading
Sniping in crypto means buying tokens quickly before others, hoping to sell them at a higher price shortly afterward. While highly rewarding, it is a risky strategy that requires expertise and precise timing. Such transactions underscore the evolving nature of the crypto market, where timing and strategy can yield extraordinary gains. However, due to the nature of the cryptocurrency market, the risk involved in such trades is also high. Therefore, investors and traders should proceed with extreme caution.
The news mentioned in the article is definitely not an investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.
Follow us on Twitter, Facebook and Instagram, and join our Telegram and YouTube channel to stay up to date with breaking news !
