This Trader Made $200 Thousand in 5 Minutes with Altcoin Investment: So How?

0

Cryptocurrencies are an asset class known for their volatility and rapid price changes, and thanks to these features, they sometimes come to the fore with striking success stories. However, some of these success stories are truly extraordinary and will be the subject of discussion in the crypto community for a long time. If we look at recent events, a trader increasing his investment from $1,470 to $202,000 in just five minutes undoubtedly falls into this category.

Remarkable Altcoin Investment

The leading blockchain analysis platform to Lookonchain According to the report, one trader followed a strategy that attracted attention in the market by spending $ 1.4 thousand of 9 Sol tokens to buy TOBI worth $ 28.58 million. Following this transaction, there was a dramatic increase in the altcoin price, paving the way for a rare high-risk financial move in the market.

Taking advantage of this sudden price increase, the trader quickly sold TOBI tokens for 1,238 SOL tokens. As a result of this selling transaction, the trader made a profit of 1,229 SOL tokens (worth approximately $201,000) in just under 5 minutes.

What is particularly striking is that each of these operations was performed in 6 short bursts of 30 seconds, and the process was completed in just 3 minutes.

Such rapid and large price increases are generally not compatible with the underlying underlying value and demand growth of an altcoin or crypto asset. Instead, they are frequently associated with allegations of manipulation. Assets with low market volume and low liquidity are often behind such price manipulations. Manipulators can use relatively small amounts of capital to influence such assets, making it easier to control prices.

This significant return on investment earned by the trader has sparked significant interest and discussion within the cryptocurrency community. Such trades highlight both the potential and volatility of the crypto market, where fortunes can be made or lost in an instant.

You can access current market movements here.

Writer Şerife Pek Doğru about :

I entered the crypto industry with the investment I made in 2019. In the same year, I started writing about blockchain technology and currently work as a writer at KoinFinans. Legal regulations regarding cryptocurrencies are one of the topics I follow.



source site-6