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Tale of a Crypto Trader’s Successful Bets on Meme Coins

In this post:

  • High-risk meme coins yield substantial returns.
  • Trader becomes the largest holder of $ELON, controlling 4.78% of the supply.

According to a leak from Lookonchain, a blockchain analyst company, a digital monetary trader, has made approximately $12.8 million through trading cryptocurrency and other digital tokens, of which $PEPE was $12.8 million. That is equivalent to more than 1503 times the initial investment. It is even higher when compound interest is taken into account and reinvested.

Trader stakes and returns

A thorough description of jwynn.eth’s trading activity by Lookonchain.the early days of the coin’s introduction, jwynn.eth invested $8,524 to purchase 2.83 trillion $PEPE tokens. After that, he made $4.57 million by selling 1.81 trillion of these tokens. He has three separate wallets holding approximately 1.02 trillion $PEPE tokens worth about $8.25 million.

Apart from $PEPE, Jwynn.eth has lately earned about $430,000 and $388,000 by trading other cryptocurrencies, such as $BOBO and $ANDY. Over the last two days, he has added to his remarkable portfolio by transacting in $JOTCHUA, $BIRDDOG, and $BRETT, bringing him profit.

Performance and market movements

According to Lookonchain’s overview, the trader has traded 20 different cryptocurrencies, but just 9 are clear-winning cryptocurrencies. This indicates that his success rate in trading is about 45%. 

A large portion of the fee goes to the exchange, as that’s where many of the crypto trading activities happen. Investment returns can be substantially affected depending on the market’s volatility.

Not only that, but Jwynn.eth also bought a significant amount of a cryptocurrency called $ELON crypto, about 38 billion, which became 5.5% of its total supply. Although almost 5 billion $ELON tokens were burned within the holding, he remains the largest, with 4.78% of the total circulating supply.

Industry reactions and speculations

The performances of Jwynn.eth and other traders usually produce applause and some doubt from the crypto community. The feedback from social media users contains fragments of users, and these fragments consider these large profits evidence of those having insider knowledge or simply as part of the wide range of strategies that lead to the more popular projects being funded.

A user named “Anti Ruggers United” criticized the news, saying that developers, not actual market opportunities, usually manipulate such lucky gains. Similarly, other enlighteners, such as cryptocurrency experts, oppose the news.

Since the level of cryptocurrencies is getting higher and higher and the interest on this matter is increasing as well, many professional traders see this opportunity along with the new investors while at the same time, market dynamics as illustrated in cases like jwynn.eth and highlight the interplay of risk, reward, and market sentiment in digital assets trading.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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