In a remarkable turn of events, a cryptocurrency trader has transformed a modest $3,000 investment into an astonishing $2 million in just a few hours, following a social media post by Binance co-founder Changpeng Zhao about a new memecoin on the BNB Chain. This incredible feat highlights the volatile and opportunistic nature of the crypto market, and the publication demonstrates positive momentum in the developments surrounding such investments.
Trader's Remarkable Investment Journey
The trader, known by the wallet address 0x872, was among the first to purchase the newly launched 4 token. Their initial investment of $3,000 in BNB skyrocketed to approximately $2 million, representing a staggering 650-fold return on investment. Despite this windfall, the trader has opted to sell only a fraction of their holdings, retaining a substantial $188 million worth of the tokens.
The Rise of the 4 Token
The 4 token emerged in the wake of a phishing attack on the BNB Chain, where the hacker reportedly profited a mere $4,000 before the community turned the incident into a viral meme. The trader seems to have capitalized on the heightened social media buzz surrounding the memecoin, with over 98% of their crypto portfolio now invested in 4. Over the past week, their portfolio has generated more than $18 million in unrealized profits.
Surge in Interest and Community Engagement
Interest in the 4 token has surged, making it the third most purchased token by smart money traders on the BNB Chain in the last 24 hours, with nearly $100,000 worth of tokens acquired. The excitement around the token was further amplified when Zhao shared the BNB Chain's statement regarding the phishing incident to his 89 million followers on X, driving even more attention to the memecoin.
