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Trader Turns $2000 to $5.7 Million by Trading a Solana-Based Altcoin

In a remarkable feat, a cryptocurrency trader transformed 30 Solana (SOL) tokens, initially valued at approximately $2,220, into a substantial fortune exceeding $5.7 million within a mere six days.

Solana

Image by drobotdean on Freepik


The trader achieved an extraordinary gain of over 2,570 during this brief period by swiftly purchasing a Solana-based altcoin, $ANALOS, just one minute into its trading debut.


As per insights from the on-chain analysis service Lookonchain, the trader identified $ANALOS within the first minute of its trading commencement and promptly acquired 16 billion tokens for 30 SOL. Subsequently, the trader retained ownership of these tokens for the following six days.


When the token's value surged, the trader opted to sell 14.5 billion $ANALOS, fetching an impressive $3.45 million in the form of the USDC stablecoin. Additionally, the trader retained 1.56 billion tokens, now valued at over $2.34 million, distributed across four addresses on the Solana network.



A majority of individuals on social media inferred that the trader might have insider knowledge of the project. This assumption stems from the trader's substantial investment shortly after the project commenced trading, indicating a perceived understanding that the token's price was poised for an upward movement.

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