Crypto is known for its volatility. This means that you can lose a lot of money quickly, but also make a lot in a short time. We recently saw an impressive example of this: someone managed to turn his investment of $1,200 into $10 million in just three days.
The investor achieved these profits by trading Tron Bull (BULL), a Tron-based memecoin. He started with an investment of $780 in BULL tokens via the SunPump platform, a popular trading venue for Tron memecoins. Shortly after, he increased his position by another $390 when BULL launched on SunSwap, bringing his total investment to almost $1,200.
BULL initially launched on August 22nd and went largely unnoticed until an influencer announced his investment in the token on August 25th. This led to an explosive price increase of 4,000% in a single day, reaching a value of over $10 million at its peak. However, this gain proved to be temporary, as the value soon dropped by almost 60% to around $4.02 million.
A dirty game?
The transaction has sparked speculation within the crypto community, with some suspecting that the trader may have had insider knowledge. Such situations are not uncommon in the crypto space. It is not uncommon for influencers to promote coins after having already purchased large amounts of those tokens themselves.
Plenty of opportunities in the crypto market
For those who missed the Tron Bull boat, there is still hope. According to crypto trader Luke Martin, there are still plenty of opportunities in the market. Martin shared with his followers that there is currently a historically strong buy signal for altcoins. According to him, altcoins are at a level that has often led to explosive price increases in the past.
While this does not guarantee future success, the signal suggests that a positive turning point may be approaching for altcoins, where they could outperform Bitcoin (BTC).
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Source: https://newsbit.nl/onbekende-cryptohandelaar-verandert-in-drie-dagen-1-200-in-10-miljoen/
