Solana Trader Strikes Gold with 400x Gain in Just Five Hours

In a remarkable feat of cryptocurrency market expertise, a Solana (SOL) trader turned a modest 18 SOL investment (approximately $1,758) into an impressive 7,197 SOL, totaling around $703,000, within a mere five hours. This extraordinary achievement represents an astonishing 400-fold increase from their initial capital.

Lookonchain, a well-known blockchain analysis account on Twitter, was the first to reveal this remarkable achievement. The account provided a thorough breakdown of the transaction’s details. As per the tweet, the trader’s substantial profit resulted from a shrewd investment in FartCaster, a recently listed cryptocurrency.

In just 5 hours, this trader made 7,197 $SOL($703K) with only 18 $SOL($1,758), a gain of 400x!😱The trader spent 18 $SOL to buy 55.1B #FartCaster(55.1% of the total supply) in the same block where the deployer opened trading for #FartCaster.He then sold 53.94B #FartCaster for… — Lookonchain (@lookonchain) February 4, 2024

Using only 18 SOL, the investor managed to obtain 55.1 billion FartCaster tokens, a staggering 55.1% of the total token supply. This move was made in the same block where the deployer initiated trading for FartCaster, showcasing a well-planned and strategic entry into the investment.

The trader made a substantial profit by selling 53.94 billion FartCaster tokens for 7,215 SOL. Despite this significant sale, they still have 1.16 billion FartCaster tokens, worth around $27,000.

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2024-02-05 11:00