A trader turned five Ethereum into $3.3 million in three days

A trader turned five Ethereum into $3.3 million in three days

user avatar

by Max Nevskyi

3 years ago

Analysts at Lookonchain discovered a lucky trader who managed to turn five Ethereum (ETH) into $3.3 million in just three days. The trader invested 5 ETH, valued at $12,000, in the meme coin PORK, buying 9.5 trillion PORK just minutes after the launch of trading for this cryptocurrency. After the price of PORK increased, he sold 6.3 trillion coins back for 329 Ethereum ($765,000), earning a net profit of 324 ETH ($753,000).

At the time of the analysis, the trader still had 3.2 trillion PORK worth $2.55 million. Many Lookonchain followers speculated that the successful trades were based on insider information. PepeFork (PORK) is a meme coin inspired by the Pepe frog symbol cryptocurrency project, which brought profits to many investors in 2023. The developers of PORK call it a fork of PEPE, and at the time of writing the article, the cryptocurrency is traded on Uniswap and MEXC.

Buying a meme coin at the start of trading and then taking profits is a popular tactic among members of the crypto community. The Lookonchain team previously reported on traders who managed to earn significant amounts in a short period of time using a similar strategy.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Defillama Releases New Report on Industry Metrics

chest

A new report has been released by Defillama, focusing on key metrics in the industry. This report aims to provide insights into the current trends and developments.

user avatarRajesh Kumar

Farside Enforces a Rigid Editorial Policy.

chest

Farside has announced a strict editorial policy focusing on accuracy, relevance, and impartiality to enhance reporting quality and build audience trust.

user avatarLucas Weissmann

New SEC Report Published.

chest

A report has been released based on information provided by the SEC, aimed at informing the public and increasing transparency regarding its activities.

user avatarFilippo Romano

Gal Gadot Embraces AI in New Bitcoin Thriller

chest

Gal Gadot stars in the AI-produced Bitcoin thriller 'Bitcoin Killing Satoshi', acknowledging the need to adapt to new technologies in film.

user avatarEmily Carter

Sorare Faces Legal Challenges Over Gambling Allegations

chest

Sorare is facing legal challenges from the Gambling Commission regarding its operations and the classification of its fantasy soccer game.

user avatarKaterina Papadopoulou

NCA Freezes £136 Million Linked to Premier League's Sponsorship Deal

chest

The UK's National Crime Agency has frozen over £136 million in a bank account belonging to the Premier League amid an investigation into a crypto sponsorship deal.

user avatarTomas Novak

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.