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In a stunning trading achievement, an anonymous crypto trader invested $1,795 to generate a massive $873,000 within 2 days. As per Lookonchain, a popular on-chain analytics platform, the trader leveraged the $BAN token to carry out these timely trades, resulting in a huge 490x return. The analytics provider took to social media to discuss this event in detail.
This guy turned $1,795 into $873K in just 2 days — a 490x return!
— Lookonchain (@lookonchain) October 27, 2024
Everyone could learn from this trader’s selling strategy: instead of panic selling everything at once, he gradually sold portions after each surge to avoid missing the rally.
He initially spent 10.2 $SOL($1,795)… pic.twitter.com/bk9YjKfCmD
Crypto Trader Sells $1,795 in $Ban to Make $873,000
Lookonchain disclosed that the disciplined selling strategy of the trader led to a remarkable $873,000 from just $1,795. This development highlights the potential of the volatile crypto world where prices wildly fluctuate in moments. Rather than selling off the holdings thereof following the early price surge, the trader utilized a strategy. Thus, the trader sold the holdings in portions. This captured profits throughout several price spikes without losing potential gains.
The initial investment took into account 10.2 $SOL tokens with a worth of up to $1,795. The trader utilized these tokens to buy 36.27M $BAN. Just after this move, the price of the $BAN token jumped. On this, the trader sold up to 12M tokens, earning $56,900. Irrespective of the initial profit, the value of $BAN sharply plunged by almost 90%. Though several traders might have liquidated the remaining holdings out of a panic, this trader remained calm. The respective crucial patience level served as an essential factor for his success.
The Trader Avoids Panic Selling by Gradually Offloading the Holdings to Ensure Massive Profits
In this respect, the trader kept holding his tokens during the downturn. Following that, when another key price rally occurred, he started offloading gradual amounts after the price spikes. Hence, the trader optimized his profits without completely leaving the position quite early. With these subsequent jumps, he effectively sold 6.13M extra $Ban coins for approximately $80,700. Currently, the trader is left with 18.13M tokens, equaling $734,000.