One savvy trader managed to turn an initial investment of $12,300 into a staggering $1,720,000 in just four days by trading the cryptocurrency $PEW. According to Lookonchain data, the trader used 3.2 ETH, which at the time was valued at nearly $12,300. This resulted in a remarkable gain of 140 times the initial investment.
The trader wasted no time and quickly spotted $PEW three minutes after trading commenced. They then used 3.2 ETH ($12.3K) to purchase 27.05 billion $PEW tokens. Subsequently, they sold 8.05 billion $PEW for 83.5 ETH ($315K).
As of now, the trader still holds 19 billion $PEW tokens, which are worth approximately $1.42 million. In a bid to diversify and reduce risk, they have distributed 18 billion of these tokens across 15 separate wallets.
This impressive feat serves as a reminder of the immense potential for profit in cryptocurrencies. Seizing the right opportunity can yield substantial returns in a short period of time. However, it also underscores the importance of timing and strategic planning in the volatile world of cryptocurrency trading.
While stories of rapid gains are inspiring, they also come with a word of caution. Trading in cryptocurrencies carries inherent risks. It is crucial not only to act swiftly but also to have a well-defined plan to navigate unforeseen market events.
Tags: ETH
