In the crypto world, fortunes can be made in moments—or in this case, just eight minutes. A crypto trader recently turned 6,008 SOL, worth $1.25 million, in record time by sniping BUZZ tokens, according to blockchain analytics platform Lookonchain.
Yes, that’s true. Here’s all you would want to know!
Lookonchain reported that the trader invested 82 SOL, worth $17,000, to buy 268.12 million BUZZ tokens. This amounted to an impressive 26.8% of the token’s total supply.
To secure a first-mover advantage, the trader also paid a significant transaction fee of 49 SOL, showing the cost of getting ahead in this high-speed market.
After acquiring the BUZZ tokens, the trader acted swiftly. Within just eight minutes, they sold their entire holding for 6,090 SOL, worth $1.26 million. Subtracting the initial investment and transaction fees, the trader pocketed an incredible profit of $1.25 million.
Crypto sniping is a strategy where traders quickly buy newly launched or low-liquidity tokens, aiming to sell them for a profit shortly after. While this can lead to huge rewards, it is a risky approach requiring expert knowledge, split-second decisions, and perfect timing.
This trade shows the fast-paced and high-stakes nature of the cryptocurrency market. It demonstrates how timing, strategy, and calculated risks can lead to extraordinary gains for those who master the game.
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