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Here are the 3 crypto tokens that earned a trader a profit of $42 million in one year
Here are the 3 crypto tokens
Extraordinary success stories often emerge in cryptocurrency trading, demonstrating the potential for significant returns. One such story is that of an anonymous cryptocurrency trader who recently managed to turn a $23 million portfolio into $65 million over the course of a year, according to intuitions from Lookonchain, a crypto analytics platform.
This $42 million profit highlights the trader’s smart move in the volatile cryptocurrency market. The trader has leveraged strategic investments in tokens such as PEPPERONDO and BEAM to achieve substantial gains.
Maximize returns through precise market timing
This trader’s journey began with a strategic cryptocurrency investment in PEPE, which alone produced a return of $60 million. The trader demonstrated a deep understanding of market trends and token potential, taking advantage of market timing and price fluctuations.
Notably, the trader’s investment in PEPE produced an earnings yield of 1203%. Initially investing 2,434 ETH (worth approximately $5 million) to acquire 3.97 trillion PEPE, the trader sold 125 billion PEPE for 350 ETH, or approximately $1.27 million, at peak prices.
According to data from Lookonchain, the remaining holdings in PEPE were valued at $56.43 million.
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What a smart trader!
In just 1 year, his portfolio grew from $23 million to $65 million, earning him $42 million!
– Earned 60 million dollars (+1203%). $PEPPER!
– Earned $5.8 million (+288%). $ONDO!
– Earned $1.85 million (+72%). $BUNDLE!
1/ Let’s analyze his professions.👇 pic.twitter.com/ahSmmwsJIz
—Lookonchain (@lookonchain) May 24, 2024
In addition to PEPE, the trader has diversified his cryptocurrency portfolio by investing in ONDO and BEAM, each of which offers different returns and market behavior. The investment in ONDO produced a profit of $5.8 million with a return on investment (ROI) of 288%, demonstrating effective diversification and asset selection strategies.
Although BEAM provided the least returns among the three, it still contributed positively to the trader’s portfolio. An initial investment led to an ROI of 72%, which, although lower than PEPE e WAVEdemonstrates the importance of portfolio diversification.
It is worth noting that such diversification in the cryptocurrency industry helps to balance risks and improve the overall stability of investment returns under different market conditions in the cryptocurrency market.
Performance overview of the 3 crypto tokens
Among the three tokens used by the trader to ensure substantial investment returns, PEPE emerged as the leading performer, followed by ONDO and BEAM.
Recently, PEPE has achieved notable heights, reaching new all-time highs. Over the past week, the asset has recorded an increase of over 40%and a further 4% increase over the past day, reaching a new peak at $0.00001526.
Despite this recent rally, PEPE’s value has fallen 6.8% from its high point, now trading at $0.0000144.
Meanwhile, ONDO made a new all-time high today at $1.15, but has since fallen by 2.7%, with its current price at $1.12. This represents a substantial increase of 15.8% in a single day, solidifying a week-long upward trend that has seen the token’s price rise by nearly 20%.
BEAM, however, showed more modest gains than the other two. In the last day and week it recorded increases of 1.5% and 7.9% respectively.
Currently, BEAM is trading at $0.02736. Notably, this marks a significant decline of around 38% from the early May high of $0.04416, indicating lower volatility and smaller gains compared to its counterparts.
Featured image created with DALL·E, chart from TradingView