A crypto currency A trader has changed about $750 to more than $270,000 in less than two days after the initial position in CZ memecoin increased by more than 35,700%.
An anonymous wallet, known as 0xf3498683bead7f8d7f0278d1d39d09fe341fddee, bought about 5.1 million CZ tokens through three transactions for a total of $754.49.
According to the latest on the chain data taken by Finbold from Lookonchain images on July 5, the stock of the bag was worth about $271,100, making an unrealized profit of about $270,300.
This sale has caught the attention of the memecoin crowd as one of the latest examples of crypto trading profits made from small startups. money.
On-chain data shows the trader acquired CZ tokens at a purchase price of about $0.000147 per token.
In less than 48 hours, the token rose to about $0.053, which represents a profit of more than 357 times the initial entry price.
This wallet has not recorded any trades, which means that all profits have not been realized. Rank also represents 100% of the addresses in the token.
The biggest risk of the business
Despite the high profit, the trading history of this wallet shows the high risk of the memecoin coin.
The data shows that the address completed around 260 token sales in the last two months and maintained an interest rate of 32%.
The seller made a profit of about $400 during that period before CZ’s position increased the total profit.
What this wallet shows is how successful trading can outpace many losing positions in the volatile memecoin market.
The CZ brand is part of a wide range of brands Binance-the memecoins inspired and themed by Changpeng Zhao that have gained attention on the BNB Chain. The drop in network prices and the trading groups involved in the trade have contributed to the increase in the oil consumption of speculative products.
Although stories of traders turning small amounts into six-figures continue to attract attention, such gains are still rare and often accompanied by high risk.
Memecoins can experience price fluctuations in all directions, making them one of the most volatile assets in the cryptocurrency market.
