Cryptocurrency Whale Makes Millions on Timely Bet in Solana-Based Memecoin
A cryptocurrency whale has made greater than $2.9 million price of revenue by betting on the meme-inspired cryptocurrency $BONK on the proper time, because the Solana-based token just lately surged greater than 50% in a day.
Based on on-chain evaluation service Lookonchain, a cryptocurrency whale accrued 98 billion BONK tokens price over $1.5 million from main cryptocurrency change Binance simply earlier than the cryptocurrency’s value moved.
The whale has a complete of 319.44 BONK tokens price over $7 million, and is already sitting on round $2.9 million price of unrealized features.
A part of its success is attributed to it being based mostly on Solana, a layer-1 cryptocurrency that has surged to this point this 12 months as institutional traders wager on it and because it recovers from the collapse of FTX, which had closely supported its ecosystem.
As CryptoGlobe reported, different cryptocurrency whales have managed to make important features on BONK. Earlier this 12 months, a cryptocurrency dealer who managed to make $6.9 million buying and selling the Solana-based meme-inspired cryptocurrency $BONK, spent a further $40,000 price of Solana’s native SOL token to reinvest into the meme-inspired token.
BONK helped Solana’s Saga telephone promote out late final 12 months, over a profitable airdrop of 30 million BONK tokens obtainable to every new proprietor of the telephone, presenting an attractive arbitrage alternative.
The cryptocurrency’s crew describes it as the primary Shiba Inu-themed Solana-based cryptocurrency that’s “for the individuals, by the individuals.”
Featured picture through Pixabay.
