Trader Solana (SOL) won big with a profit of 400 times
One Solana (SOL) trader has achieved what many in the cryptocurrency world can only dream of thanks to his acumen. Using just 18 SOL (approximately $1,758), this trader earned a staggering 7,197 SOL (approximately $703,000) in just 5 hours, a 400x increase from the initial investment.
This extraordinary feat was first discovered by Lookonchain – a blockchain analysis account on X (formerly Twitter). In it, they present the specifics of the transaction. According to the tweet, this trader's unexpected fortune came from a shrewd investment in FartCaster, a newly traded cryptocurrency.
With just 18 SOL, traders bought 55.1 billion FartCaster tokens, a staggering 55.1% of the total supply. This bold move was made at the same time the implementer opened trading for FartCaster, representing a strategic and timely entry point for the investment.
Strategic move
The majority of the profits came when this trader sold 53.94 billion FartCaster tokens for 7,215 SOL, ensuring a large profit on the initial coin. Despite this massive sale, traders still hold 1.16 billion FartCaster tokens, worth about $27,000, indicating confidence in the token's potential future value or a strategic reserve for further price fluctuations. according to.
This trader uses a strategy: buy a significant portion of the new token supply at the start of trading and quickly sell to lock in profits — demonstrating an aggressive trading tactic that requires precise timing, careful market analysis and equally important is the element of luck. This is a classic case of the inherent “high risk, high reward” nature of the crypto trading space.
The Solana blockchain is known for its high speed and low transaction costs, making it the preferred platform for traders and developers alike, facilitating the type of fast and large-scale transactions exemplified by this event. This trading success story could attract more attention to Solana's ecosystem, highlighting its potential to facilitate important transactions and investments.
