Intelligent Solana Trader Turns $60 worth of $SOL into $1.26 Million in 2 Months, Says Lookonchain
Despite the recent volatility in the cryptocurrency market, there are still traders who manage to exhibit exceptional patience and reap substantial profits. Lookonchain, a well-known on-chain analytics forum, recently shared an extraordinary story of one such trader who patiently accumulated immense returns within a matter of weeks. This jaw-dropping achievement was unveiled on LookOnChain’s official X account.
“This trader is remarkably patient! He turned $60 worth of $SOL (equivalent to $8,673) into an astounding $1.26 million in just 2 months, resulting in a gain of 144x! Initially, the trader invested 60 $SOL ($8,673) to purchase 24.8 million $HAMMY tokens at a price of $0.00035 on March 10th. Approximately a month later, the price of $HAMMY skyrocketed to $0.007, resulting in a gain of over 20x. However, instead of selling for profit, the trader decided to hold on,” recounted Lookonchain in a tweet.
The on-chain analytics platform further revealed that, undeterred by market fluctuations, the trader chose to hold onto the volatile cryptocurrency. According to Lookonchain, the trader not only exercised patience but also utilized 60 SOL coins to acquire a significant amount of $HAMMY tokens. As of the time of purchase, the value of the spent Solana tokens amounted to approximately $8,673. The trader successfully acquired a whopping 24.8 million $HAMMY tokens.
At the time of purchase, each $HAMMY token was valued at a mere $0.00035. However, fortune smiled upon the trader, as the token’s price rose significantly in the following days. After a month, the value of the $HAMMY token soared to $0.007. This remarkable surge translated into a profit increase of twentyfold for the trader. Nonetheless, the trader chose not to capitalize on this substantial profit but instead continued to wait and observe the potential for further growth in the coming days.
Finally, on the 4th of May, the trader reportedly sold roughly 12.8 million $HAMMY tokens, pocketing a grand total of 2,711 SOL tokens (equivalent to $401,000). Based on LookOnChain’s analysis, the average value of the sold $HAMMY tokens was approximately $0.0313. As a result, the trader still held roughly 12 million $HAMMY tokens at the time of sale, which carried a value of around $858,000. In total, the trader’s cumulative profit amounted to a staggering $1.25 million.
This impressive feat serves as a testament to the potential gains that can be achieved in the dynamic world of cryptocurrency, especially for those with the patience and foresight to hold onto their investments during periods of volatility. As the crypto market continues to evolve, stories like this inspire countless traders to strive for similar success and seize the opportunities that arise.