• 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

Uniswap Foundation's Treasury Management Ensures DeFi Sustainability

chest

The Uniswap Foundation's strategic asset allocation is vital for ensuring long-term sustainability and protecting against market volatility.

user avatarKofi Adjeman

Avalanche and Firo Implement Major System Upgrades

chest

Avalanche and Firo have implemented major system upgrades to enhance network capabilities and performance.

user avatarNguyen Van Long

Avalanche Foundation Grants $20 Million for Subnet Development

chest

Avalanche Foundation announces a $20 million grant to support subnet development.

user avatarSatoshi Nakamura

BOB Tokenomics Unveiled with 4476 Community Allocation

chest

The BOB tokenomics model introduces a significant community allocation aimed at fostering ecosystem growth.

user avatarSatoshi Nakamura

Pico Achieves 32X Performance Boost for Historical Blockchain Data Applications

chest

Pico, the newly launched zero-knowledge virtual machine by Brevis, has achieved a remarkable 32X performance boost for applications utilizing historical blockchain data.

user avatarJesper Sørensen

Hyperliquid Faces Token Unlock Pressure Ahead of Core Contributor Release

chest

Hyperliquid is preparing for a significant token unlock on November 29, 2023, when approximately 992 million HYPE tokens will be released to core contributors, potentially exerting bearish pressure on prices.

user avatarRajesh Kumar

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.