A dealer is seeing over 27,600% in income after investing in a memecoin launched on the Ethereum (ETH) layer-2 scaling answer Base.
In response to blockchain monitoring agency Lookonchain, one sensible dealer turned $18,000 into $5 million – a achieve of 27,677% – after buying Degen (DEGEN) in January.
“Solely invested 7.35 ETH ($18,000) on DEGEN, this dealer made ~$5 million, a achieve of 272x! He spent 7.35 ETH ($18,000) to purchase 260 million DEGEN on January fifteenth and January twenty first. Then bought 102.5 million DEGEN for 1.26 million USDC, with 157.5 million DEGEN (3.75 million) left.”
DEGEN, which has a market cap of $328.57 million, is buying and selling for $0.0258 at time of writing, up 2.69% within the final 24 hours.
Lookonchain additionally noticed {that a} deep-pocketed early Ethereum investor all of the sudden bought a large quantity of the highest altcoin for big income.
“An early holder of ETH bought 17,770 ETH for 62.24 million DAI at $3,503 [on March 27th]. He amassed 14,280 ETH (value $2.6 million) at a median value of solely ~$182 from Gemini and Bittrex from March 2017 and April 2021.
The revenue is $59 million, a achieve of 23x!”
Ethereum is buying and selling for $3,511 at time of writing, down 1.50% within the final 24 hours.
Lastly, Lookonchain spotted one investor shortly turning 50 Solana (SOL) into 2,828 SOL by buying and selling Solana-based memecoin cat in a canines world (MEW).
“Beginning with solely 50 SOL, this dealer turned it into 2,828 SOL ($531,000) in simply two days!
Let’s see how he did it.
The dealer noticed MEW 20 minutes after opening buying and selling and withdrew 50 SOL from MEXC to purchase it. He spent 30 SOL to purchase 368.3 million MEW and bought 200.2 million MEW for two,828 SOL ($530,000). He nonetheless has 168.02 million MEW ($353,000) left, and the full revenue is ~$877,000.”
At time of writing, MEW is value $0.00548, up over 113% previously day.
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