A notable investor has gained attention by realizing a remarkable profit of 289 times on SPX tokens, associated with the Solana network.
This investor had previously acquired 19.15 million SPX tokens earlier this year and has recently begun selling them after transferring to Ethereum, reaping nearly $14 million in gains.
According to Lookonchain, a prominent blockchain analytics firm, the whale made its purchases between January 29 and March 21, 2024, spending approximately $48,400 on the 19.15 million SPX tokens.
A whale with 19.15M $SPX($15.7M) is selling $SPX to realize profits.
His profit on $SPX is ~$14M, a 289x return!
He spent $48.4K to buy 19.15M $SPX on #Solana between Jan 29 and Mar 21.
He then bridged all 19.15M $SPX to #Ethereum and started selling $SPX on Oct 3.
So far, he… pic.twitter.com/zLwus8gcuU
— Lookonchain (@lookonchain) October 12, 2024
Now, in October, this investor is cashing in on substantial profits as the tokens have seen significant appreciation, resulting in an extraordinary 289-fold increase in their investment, amounting to around $14 million.
The Avalanche Foundation has revealed plans to buy back all AVAX tokens that were sold to the Luna Foundation Guard (LFG) before April 2022.
Charles Hoskinson, the founder of Cardano (ADA), has addressed the rising negative sentiment surrounding his project on social media.
World Liberty Financial, a decentralized finance (DeFi) project associated with former President Donald Trump, is set to launch its tokens soon.
Engaging in meme coin trading can be quite hazardous, requiring precise timing to yield profits.