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Developer Profits $2.85 Million from New Altcoin

29.07.2024 8:30 1 min. read Alexander Stefanov
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Developer Profits $2.85 Million from New Altcoin

Data from cryptocurrency tracking service Lookonchain reveals that the creator of the newly launched Neiro altcoin has achieved substantial financial gains.

The developer initially acquired 97.5 million Neiro tokens for a mere 3 SOL, equivalent to around $500.

After the token’s price surged, the developer sold 68 million of these tokens for 15,511 SOL, or roughly $2.85 million, resulting in a profit of 15,508 SOL from this transaction.

Additionally, the developer sent 10 million Neiro tokens to a burn wallet, leaving them with 19.5 million tokens still in their possession, translating to an unrealized profit of approximately $1.8 million.

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The Neiro token, launched on the Solana blockchain, is a memecoin named after Kabosu, the recently deceased dog who was the face of Dogecoin.

Alexander Stefanov
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With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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