The cryptocurrency market presents significant opportunities for traders who can effectively time their investments, and one particular trader has showcased exceptional skill.
This individual has reportedly earned over $1 million in just under two months by strategically trading a specific meme coin.
According to data from the blockchain analytics platform Lookonchain shared on October 8, this trader has achieved a remarkable 100% win rate while swing trading Popcat (POPCAT) since August 20.
Over the course of seven weeks, they have executed eight well-timed trades on POPCAT, with the latest trade occurring between October 4 and October 7, resulting in a profit of $194,093.
This brings the trader’s total earnings to an impressive $1,050,440 from August 20 to October 7.
Thailand’s financial regulator has granted approval for the use of Tether’s USDt and Circle’s USDC in cryptocurrency trading, allowing them to be listed on licensed exchanges.
Crypto analyst Miles Deutscher has shared recent data highlighting a challenging period for the digital asset market, revealing that only 12 out of the top 100 cryptocurrencies by market capitalization have posted positive returns in the past three months.
Stablecoins are attracting major attention from traditional financial players, with institutions like Bank of America, PayPal, and Revolut moving to introduce their own versions in response to a rapidly evolving market.
Binance has taken decisive action against a market maker involved in irregular trading activities related to two cryptocurrencies.