A crypto trader successfully locked in massive profits trading PING, a native token powering the X402 open-source protocol owned by Coinbase. According to data shared today by Lookonchain, the trader has made $675K profit in less than 2 days trading the PING token, showing the capability of the new crypto asset.
The Trader’s Journey
Amid thousands of crypto assets operating in the market, the trader recognized the huge potential in the PING token. Despite being a relatively unknown cryptocurrency, the trader bought 13.42 million PING tokens after investing $89,000 into the new crypto asset on Thursday, October 23, 2025. The smart trader capitalized on the massive rise of the asset’s price by selling 6.72 PING million tokens for $387,000 earlier day, less than two days after the initial investment. With the transaction, the trader currently holds a profit of $675,000, after the token surged by over 759%.
Some catalysts behind the token’s rapid ascent include Binance listing and buyer accumulation. Yesterday, on Friday, October 24, 2025, the PING token spiked by 17% in less than 1 hour after its listing on the Binance Wallet. Its total market capitalization climbed to a groundbreaking level of $42.19 million, surpassing the $30 million level for the first time since its launch. This dramatic surge occurred amid the ongoing corrective momentum being noticed in the wider crypto market that has made BTC and ETH currently stand at $111,688 and $3,950.31, respectively. The drivers behind PING’s remarkable rally include whales’ involvement in the market and strategic investors’ commitment to seeking exposure to tokens with potential capabilities.
The sharp rise in PING showcases the growing popularity of the x402 protocol, an open-source payment system launched by Coinbase on September 25, 2025. PING has witnessed an explosive surge, with trading volume increasing by 8,200% after four weeks following its launch, and the number of buyers skyrocketing by more than 1.5 million percent.
Binance played a crucial role in bolstering PING’s accessibility to investors. The token listing on Binance wallet’s market section massively exposed the asset to a large customer base and significantly boosted trading activity and liquidity, highlighting strong demand from both institutional and individual customers.
Coinbase and X402 Standardizing Internet Payments
PING’s tremendous market upswing reflects Coinbase’s commitment to empowering developers, content creators, and website owners worldwide. A record of 163,600 transactions processed in a week shows the x402 protocol’s success. Launched late last month, x402, an open protocol for internet-native payments, aims to simplify the process of sending and obtaining payments on the internet for content creators, developers, and website owners. By running an open, flexible payment standard, x402 empowers developers, creators, and Web3 project owners with the ability to seamlessly communicate payment requests and responses, irrespective of their geographical location, payment method, or currency used.
Related reading: FOGNET Partners with TradingRazor to Advance AI-Driven Multi-Chain Trading Intelligence.
