Cryptocurrency EducationIndustry AnalysisNewsSOL

Crypto Trader Strikes Gold with $6.9M in $BONK Profits, Buys 3.29 Billion More Tokens

1 Mins read

A cryptocurrency trader who managed to make $6.9 million trading the Solana-based meme-inspired cryptocurrency $BONK, has recently spent an additional $40,000 worth of Solana’s native SOL token to reinvest into the meme-inspired token.

According to on-chain analysis service Lookonchain, the trader has bought an additional 3.29 billion BONK tokens earlier, bringing his nine-month accumulation of the cryptocurrency to 371.4 billion BONK. The tokens, according to the service, cost the trader 6,998 SOL worth around $276,000.

The trader has, according to blockchain data, sold half of their BONK token when the cryptocurrency’s price surged significantly, for 50,139 SOL tokens worth over $5.2 million. BONK is at the time of writing trading at $0.000017 after moving up more than 44% over the past week.



The cryptocurrency has notably surged more than 4,200% with part of its success being attributed to it being based on Solana, a layer-2 cryptocurrency that has surged significantly last year as institutional investors bet on it and as it recovers from the collapse of FTX, which had heavily supported its ecosystem.

The cryptocurrency helped Solana’s Saga phone sell out late last year, over a lucrative airdrop of 30 million BONK tokens available to each new owner of the phone, presenting an enticing arbitrage opportunity.

The cryptocurrency’s team describes it as the first Shiba Inu-themed Solana-based cryptocurrency that is “for the people, by the people.” 

Source

1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Articles
Related posts
CryptoNews

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…
BNBCryptoNews

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…
CryptoNews

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥

Ailtra.ai will not disclose your account information to any 3rd parties.