• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

How a Crypto Trader Earned $1.25M in 8 Minutes: The Role of Sniping

user avatar

by Giorgi Kostiuk

a year ago


A crypto trader made an impressive $1.25 million in just 8 minutes using a strategy known as sniping.

Trade on BUZZ Tokens

According to blockchain analytics platform Lookonchain, a trader spent 82 SOL, equivalent to approximately $17,000, to purchase 268.12 million BUZZ tokens, which amounted to 26.8% of the total token supply. To secure a first-mover advantage, the trader paid a fee of 49 SOL. In just 8 minutes, they sold their tokens for 6,090 SOL, equivalent to $1.26 million, resulting in a profit of $1.25 million after subtracting the initial investment and fees.

The Role of Sniping in Crypto Trading

Sniping in crypto refers to quickly buying tokens ahead of others with the goal of selling them at a higher price shortly after. It is a risky yet rewarding strategy that demands expertise and precise timing. Such trades highlight the dynamic nature of the crypto market where timing and strategy can lead to extraordinary gains.

Risks and Opportunities

While the sniping strategy can lead to significant financial gains, it also carries high risks. Traders must consider market volatility and the potential for rapid trend reversals, making such trades suitable only for those with sufficient experience and readiness for quick decision-making.

The trade illustrates the potential for significant gains in the crypto market through risky strategies like sniping. However, the high risks involved and the importance of understanding market dynamics should not be underestimated.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Hyperliquid Moves 411M HYPE, Signaling Institutional Interest

chest

Hyperliquid has transferred 411 million in HYPE tokens shortly after a major token unlock, indicating strong institutional confidence.

user avatarSon Min-ho

Long Positions Dominate Recent Crypto Futures Liquidations

chest

Recent data shows that long positions in major cryptocurrencies like Bitcoin, Ethereum, and Solana were primarily affected by forced liquidations due to a sudden price dip, highlighting the risks of overleverage in the crypto market.

user avatarAyman Ben Youssef

Key Issues Cause Delays in Crypto Market Structure Bill Progress

chest

Key issues are causing delays in the Senate's progress on the crypto market structure bill, including stablecoin yield, conflicts of interest, and DeFi regulations.

user avatarTando Nkube

Bitcoin Miners Diversifying into AI Computing

chest

Large Bitcoin miners are diversifying their infrastructure to support AI computing, leveraging their energy resources.

user avatarNguyen Van Long

Concerns Over MSCI's 50% Asset Threshold

chest

Strive raises concerns about the feasibility of MSCI's proposed 50% asset threshold for Bitcoin holdings.

user avatarKofi Adjeman

Strive CEO Emphasizes Bitcoin Miners' Importance for AI

chest

Strive CEO Matt Cole emphasizes the importance of Bitcoin miners in providing infrastructure for AI computing, highlighting their role in meeting the rising demand for power in the sector.

user avatarSatoshi Nakamura

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.