As the crypto market tries to maintain its recovery pace, a smart trader has succeeded in making tremendous profits amid the ongoing downtrend. With his knowledge of crypto trading, the trader embraced a risky move to invest in SZN, a new meme coin launched on TRON, whose abrupt volatility facilitated his fortune.
$809 into $510,000 in 15 hours
Today’s data reported by Lookonchain triggered attention toward the investor who generated over $509,191 in profit despite a sustained plunge in the wider crypto markets.
According to the data, the trader turned an initial investment of $809 into $510,000 by trading SZN, a new meme coin launched yesterday by Tron Network. The return is equivalent to more than 630 times the initial investment in just 15 hours. He spent 3,600 TRX ($809) to buy 46.4 million SZN tokens. He then sold 12.5 million SZN tokens for 400,890 TRX ($94,000), leaving 33.9 million TRX ($416,000).
A practical approach to investing
The crypto landscape is full of strikes of sudden successes, and new meme coins are normally the main source of these prosperities. For the transaction above, this smart trader combined strategic decisions and a stroke of luck to turn a small investment worth $809 into a whopping $510,000 profit within 15 hours, thanks to the meme coin’s volatile nature.
While this investor’s identity is unknown, his strategy is simply an intelligent move, not driven by insider information. The formula for his success is based on his sharp eye for spotting tokens with potential rapid growth. By looking at a wide variety of different tokens, he diversified the risk and expanded his chances of spotting tokens with explosive capability.
Simply buying new and lesser-known tokens with potential was not enough for this investor. He used a twofold approach that tracks tokens on CEXs and DEXs. First, he focuses on buying tokens on a DEX, where they are normally listed earlier and at lower prices. With his observant eye on market trends, he then would strategically sell tokens in a CEX once they witnessed a substantial price rise due to a heightened market hype or listing event. This approach proved successful with SZN. The trader took advantage of its recent listing on a CEX and sold it for a staggering profit within 15 hours.
This investor’s trade showcases the potential gains connected with strategic investing and conducting thorough research in the market. It also highlights the significance of diversification and taking advantage of unique offerings provided by both CEXs and DEXs.
