A fortuitous trader has struck gold with a Solana (SOL) based memecoin that skyrocketed by over 1,200% in just three weeks, as per data from Lookonchain, a blockchain tracking firm. The data reveals that a participant in the Beercoin (BEER) pre-sale has walked away with more than $1 million in profit.
According to Lookonchain, the BEER pre-sale participant spent 301.2 SOL ($50,000) to join the pre-sale and received 3.38 billion BEER tokens. Subsequently, on May 26th, he exchanged 5.45 billion BONK ($192,000) for 1.86 billion BEER. After BEER was listed on Gate.io, he deposited 240 million ($120,000) for profit, ultimately selling 4.6 billion BEER ($1.34 million) on June 14th, with 400 million BEER ($109,000) remaining, resulting in a total profit of over $1.3 million.
BEER’s trading price surged from $0.000018 on May 24th to $0.000245 at the current moment, marking a remarkable gain of 1,261%. In addition, Lookonchain highlights that a crypto whale has made substantial profits from his holdings in Pendle (PENDLE), a platform that enables users to tokenize and trade future yields.
The whale deposited 755,000 PENDLE ($3.83 million) on Binance for profit on June 11th, later withdrawing 5.02 million PENDLE ($2.73 million at the time) from Binance on August 18th, 2023, when the price was $0.54. Currently, the whale holds 4.27 million PENDLE ($21.7 million), resulting in a total profit of $22.8 million (+834%). PENDLE is currently trading at $4.93, slightly down in the last 24 hours.
Furthermore, Lookonchain discloses that a crypto investor has reaped a 1,110% profit in just eight days by acquiring Mother Iggy (MOTHER) tokens, the cryptocurrency venture of Australian rapper Iggy Azalea. The investor spent $777,000 to purchase 50.35 million MOTHER tokens from May 29th to June 1st and still holds them, now valued at $9.4 million.
At the current moment, MOTHER is trading at $0.13, a drop of nearly 7% in the last 24 hours. Remember to subscribe to receive email alerts and stay up-to-date with the latest developments in the cryptocurrency space.