A sharp-eyed trader has taken the crypto world by storm, earning a staggering $7.4 million in profits from trading VINE tokens. Blockchain analytics platform Lookonchain highlighted this trader’s remarkable strategy and ability to seize market opportunities with precision.
Vine Coin’s price has surged nearly 50% in the past two days, fueled by Binance’s announcement of a futures listing for the cryptocurrency. This rapid rise has turned VINE into a hot commodity for traders.
Two days ago, the trader made a bold investment of $70,000 to buy 14.64 million VINE tokens. This decision paid off quickly as they sold 9.96 million tokens for $2.36 million, locking in a substantial profit.
Despite selling a large portion of their holdings, the trader still holds 4.67 million VINE tokens, now worth $1.73 million. This first wave of trades netted the trader an incredible $4 million profit.
Not stopping there, the trader made another move just nine hours ago. Using a different wallet, they invested $1.69 million to purchase 13.81 million VINE tokens.
In just hours, the value of these tokens rose to $5.1 million, giving the trader an unrealized profit of $3.4 million. This second wave of trades showcases the trader’s keen market instincts.
Vine Coin has recently gained attention in the crypto world with significant price growth and a new listing. On Friday, its price surged by nearly 60% after Binance announced a futures listing for the token.
According to Binance, its futures platform introduced the VINEUSDT perpetual contract, offering users up to 75x leverage. Following this announcement, Vine Coin’s price saw a remarkable 50% increase and is now trading at $0.2412, with a market cap of $234 million.
When it comes to trading, this is how the pros separate themselves from the pack. Strategy is king!
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