Crypto trader transforms $10k into $400k within a 10-minute span
Since its inception in late October of last year, the ongoing rally in the cryptocurrency market has witnessed numerous successful trades that have resulted in remarkable rags-to-riches stories. In recent weeks, there have been several notable moves that have allowed savvy cryptocurrency traders to multiply their investments hundreds of times over within a matter of hours. Reports of these success stories seem to emerge regularly.
One of the most recent examples occurred on June 2nd when a trader used 60 SOL (Solana) – valued at just under $10,000 at the time – to purchase nearly 90 million units of a relatively new cryptocurrency called HAPPY. Just 10 minutes later, the same trader sold HAPPY for almost 2,500 SOL, equivalent to approximately $400,000. This rapid trade resulted in a staggering 3,900% increase in the investment’s value.
HAPPY, which was launched by a user known as bazingahappy, had previously acquired control of 79% of the total supply of the cryptocurrency by spending around $14,000 worth of SOL. Nevertheless, bazingahappy clarified that they were not responsible for the highly successful 10-minute trade.
It is important to note that trading new cryptocurrencies remains risky despite the potential for substantial gains. While there have been stories of traders turning minimal investments into significant sums within hours or days, it is crucial to remember that such rags-to-riches tales are not the only occurrences in the crypto market. In 2024, there has been a resurgence of bull markets accompanied by altcoins and meme coins. However, trading these assets, especially newly released ones, carries inherent dangers. Scams and costly mistakes are still prevalent in the industry.
For instance, during the launch of the Slerf (SLERF) meme coin, one of the team members accidentally burned $10 million worth of investments. Around the same time, another meme coin called CondomSOL turned out to be a rug pull, leaving many investors at a loss.
Disclaimer: The content provided on this site should not be construed as investment advice. Investing in cryptocurrencies carries inherent risks, and your capital is at risk when you invest.