Home Altcoins News Cryptocurrency Whiz Nets $6.7 Million Profit in Three Hours with Sneaky Ethereum Move

Cryptocurrency Whiz Nets $6.7 Million Profit in Three Hours with Sneaky Ethereum Move

In a dazzling display of crypto prowess, a single trader has managed to pocket an eye-watering $6.7 million in profits in just three hours. The windfall was made possible by strategically navigating the launch of Satoshi VM, a Layer 2 network designed for the Bitcoin blockchain. The jaw-dropping trade has sent shockwaves through the crypto community, prompting enthusiasts and investors to unravel the details of this remarkable feat.

The astonishing story unfolded on the Ethereum blockchain, where a well-informed trader capitalized on the hype surrounding Satoshi VM’s launch. The project had garnered significant attention, thanks in part to endorsements from influential figures within the crypto space. Notably, the trader exploited this fervor by paying a premium fee of 141.66 ETH (approximately $140,000) to secure a prime spot and snipe the contract wallet drop.

This calculated move allowed the trader to jump ahead of other participants, acquiring 2.61 SAVM tokens for a total of 277.66 ETH. Factoring in the premium fee paid to miners, the trader’s initial investment stood at around $700,000. A decision that would prove to be fortuitous, as the value of the Ethereum-based token soared in the subsequent hours.

Within the brief span of three hours, the trader’s SAVM holdings ballooned to a staggering $6.7 million, resulting in a jaw-dropping $6 million profit. The trader wasted no time capitalizing on this success, selling 2.16 million SAVM tokens for $4.38 million initially, securing a profit of $3.6 million from this transaction alone.

In a surprising twist, the trader swiftly liquidated their entire SAVM portfolio at the time of writing, bringing their balance to less than zero and amassing a profit of over $6 million in less than a day. This unprecedented maneuver has left the crypto community buzzing with speculation and admiration for the trader’s financial acumen.

The Satoshi VM (SAVM) token launch has emerged as a notable event within the crypto sphere, catching many off guard with its rapid ascent from its Initial DEX Offering (IDO) price. The coordinated efforts of prominent influencers, including MacnBTC and Crypto Kaduna, played a pivotal role in driving the token’s value.

The IDO witnessed overwhelming demand, with 47,000 participants registering for a chance to partake. However, only a select few managed to secure allocations, setting the stage for substantial gains. Encouraged by influential endorsements, the coin swiftly surpassed the $100 million market cap milestone within hours of its launch.

At its zenith, the Ethereum-based SAVM token reached an impressive $14.8, propelling its market cap above $150 million. IDO participants reveled in a remarkable 250x return on investment. Nevertheless, the token’s price has since retraced to $11.6, with the market cap settling at $120 million at the time of this writing.

The trader, identified by a single wallet address, capitalized on the frenzied launch by paying a premium fee of 141.66 ETH (approximately $140,000) to jump the queue and front-run the contract wallet drop. This shrewd move allowed the trader to secure 2.61 SAVM tokens for a total of 277.66 ETH, factoring in the premium fee paid to miners. The initial investment clocked in at around $700,000.

What followed was nothing short of extraordinary. In just three hours, the value of the trader’s SAVM stash skyrocketed to an impressive $6.7 million, translating into a staggering $6 million profit. The trader wasted no time and promptly sold 2.16 million SAVM tokens for an initial sum of $4.38 million, locking in a handsome profit of $3.6 million from this strategic transaction.

Even more intriguing is the fact that, as of the latest update, the trader has successfully liquidated their entire SAVM holdings, bringing the wallet balance to less than zero and amassing a remarkable profit of over $6 million in less than a day.

As the crypto community grapples with the implications of this extraordinary trade, the story serves as a testament to the volatile and unpredictable nature of the cryptocurrency market. The saga of the crypto trader’s multi-million dollar windfall has captivated enthusiasts and investors alike, sparking conversations about the strategies employed and the broader implications for the evolving landscape of digital assets.

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James

James T, a passionate crypto journalist from South Africa, explores Litecoin, Dash, & Bitcoin intricacies. Loves sharing insights. Enjoy his work? Donate to support! Dash: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

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