In a major move, a trader earned 6,008 $SOL ($1.25M) in just 8 minutes. The trader sniped 268.12 million $BUZZ, or 26.8% of the total supply, spending 82 $SOL, which translates to almost $17K, according to Lookonchain. The trader paid a transaction fee of 49 $SOL in order to buy the tokens.
Trader Earns $1.25M in 8 Minutes After Selling 268M $BUZZ
After the purchase was made, the trader sold the entire 268.12 million $BUZZ. The trader sold for $1.26M ($6,090 $SOL) in just 8 minutes. Consequently, it made a profit of 6,008 $SOL ($1.25M).
This trade demonstrates how the cryptocurrency market can be successfully traded quickly. In a short period of time with a very large profit the trader was able to take advantage of a price movement. A 49 $SOL transaction fee was high, but this allowed the trader to act fast and make the purchase.
Fast Trades Offer Big Rewards, But Caution Is Crucial
Trades like these, demand a quick decision and a knowledge of market conditions. This trade succeeded, but it was also, in some ways, a cautionary tale of the dangers of fast paced trading. Not all trades will achieve such levels of profit. It is important for traders to know when to act and when to wait.
Finally, this 8 minute trade, reported by Lookonchain, illustrates how quickly and lucrative cryptocurrency trading can be. But it also depends on skill, timing and broad knowledge of the market.
