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Despite the recent ups and downs in the crypto market, some traders have been showing significant patience and profits. Lookonchain, a famous on-chain analytics forum, recently disclosed such an event where a trader patiently made huge profits within a few weeks. LookOnChain revealed this development on its official X account.
This trader is so patient!
— Lookonchain (@lookonchain) May 7, 2024
He turned 60 $SOL($8,673) into $1.26M in 2 months, a gain of 144x!
He spent 60 $SOL($8,673) to buy 24.8M $HAMMY at $0.00035 on Mar 10.
About a month later, the price rose to $0.007, and his gain had exceeded 20x, but he did not sell for profit.… pic.twitter.com/7k66nwgQOZ
$SOL Trader Exercises Patience to Turn 60 Solana into $1.26 Million Within Weeks
The on-chain analytics platform disclosed that irrespective of the market trends, the trader patiently held the crypto tokens. As per Lookonchain, the trader purchased $HAMMY tokens with the use of up to 60 SOL coins. The value of the spent Solana tokens was nearly $8,673 at that time. On the other hand, the trader bought nearly 24.8 million $HAMMY tokens.
The value of the $HAMMY token was almost $0.00035 at that time. The respective purchase took place on the 10th of March this year. Nonetheless, the price of the token rose to great heights, making a substantial profit for the trader. According to Lookonchain, the trader witnessed a great value spike in the next few days. Following a month, the $HAMMY token’s value touched $0.007.
In this way, the trader’s profit went through a surge of twenty times. Even then, the trader did not trade the respective tokens to get that much profit. He kept on waiting patiently for more growth in the profit in the next few days. Following that, till the 4th of this month, the trader reportedly sold nearly 12.8 million $HAMMY tokens.
The Cumulative Profit of the Trader Reaches $1.25M
The trader reportedly sold the tokens for up to 2,711 SOL tokens (equaling $401K). As per LookOnChain, the average value of the sold $HAMMY tokens was nearly $0.0313. With this, he left approximately 12 million $HAMMY with a worth of almost $858K0. This entire event elevated the cumulative profit of the trader to $1.25 million.