Trader turned 1 Solana into $2 million

Trader turned 1 Solana into $2 million

user avatar

by Max Nevskyi

3 years ago


Analysts at Lookonchain discovered a unique case in the crypto market where an unknown trader managed to turn just 1 Solana (SOL) into 2 million dollars in 22 days. The researchers recorded that the trader invested only a couple of tens of dollars, starting by depositing 1.5 Solana into their wallet.

This user used their SOL to purchase 43.1 million Silly Dragon (SILLY) tokens shortly after they started trading. For the purchase, they spent 1 Solana, which was about 62 dollars at the time.

During the price rise of Silly Dragon, the trader sold 33.34 million SILLY for 528 thousand dollars. They were left with 9.76 million tokens worth 1.5 million dollars, making them the eighth-largest holder of SILLY. Ultimately, the trader earned a 21,715-fold increase in their capital from the rise in SILLY.

The cryptocurrency trading community suggests that such success might not have been a coincidence but a result of insider trading. It is speculated that the trader might have known about the upcoming listing of SILLY and the expected price increase following this event. Some even suggest that the successful investor could have been one of the founders of the Silly Dragon project.

This case is reminiscent of another recent example where a trader earned 3 million dollars in 5 days on "inverted Solana."

Tier I

Sector: #18291

Sealed Hiding Place 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, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Ripple Prime Introduces Perpetual Swaps for Institutional Clients

Ripple Prime introduces perpetual swaps for institutional clients, allowing them to trade derivatives referencing over 100 traditional markets.

user avatarAyman Ben Youssef

Ripple Highlights Key Trends in Institutional Custody from BCG Report

Ripple discusses key trends in institutional custody for digital assets based on a BCG report, highlighting the importance of governance, interoperability, and security.

user avatarTando Nkube

Solana Enhances Developer Experience with Web3js v31 Release

Solana announces the release of Web3js v31 on October 16, enhancing interoperability with development tools for easier application building.

user avatarKofi Adjeman

Study Proposes Optimizing Validator Leader Schedules for Solana

A study suggests optimizing validator leader schedules for quicker handovers while highlighting potential security tradeoffs.

user avatarNguyen Van Long

SEC Issues New Guidance for Tokenized Securities Trading

The SEC has issued new guidance requiring venues to publish a public operating notice at least 30 days prior to commencing operations for tokenized securities trading.

user avatarSatoshi Nakamura

Moonshot AI Launches Kimi K31 Pro with Limited Offensive Capabilities

Moonshot AI has launched its Kimi K31 Pro model, intentionally excluding certain cyberattack-related data from its training.

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.