This crypto ‘smart trader’ profited over $1.3 million since March 1

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In the cryp­tocur­ren­cy mar­ket, smart traders are pseu­do­nym address­es with a prof­itable record trad­ing cryp­tocur­ren­cies. Usu­al­ly, oth­er spec­u­la­tors fol­low these smart traders to col­lect insights and, some­times, mir­ror strategies. 

Recent­ly, a meme coin boom dom­i­nat­ed the cryp­to land­scape in March, cre­at­ing new prof­itable traders who made mil­lions of dol­lars. In par­tic­u­lar, the Solana (SOL) account ‘14c7f…3KwJn’ has prof­it­ed over $1.3 mil­lion trad­ing more than 350 meme coins.

The smart trad­er achieved this impres­sive result in a month-to-date (MTD) time frame, accord­ing to Lookon­chain’s post on X (Twit­ter).

Notably, the high­est prof­it was acquired with the meme coin TWTR. The trade start­ed with an ini­tial invest­ment of 6 SOL, return­ing 2,066 SOL, for over 34,000% gains. This alone has ren­dered the smart trad­er a prof­it of $360,500, con­sid­er­ing a price of $175 per SOL.

Solana (SOL) price and mar­ket cap. Source: Coin­Mar­ket­Cap

Top 10 meme coin trades by the $1.3 million profit smart trader

Look­ing fur­ther, the analy­sis con­sol­i­dat­ed the oth­er nine most prof­itable meme coin trades by ‘14c7f…3KwJn’. NOSTALGIA result­ed in a prof­it of 1,230 SOL, worth $215,250, while Sol­stream 779 SOL ($136,325).

The oth­er sev­en meme coins sum to a total of 1,610 more Solana to the smart trad­er, val­ued at $281,750.

Top 10 prof­itable tokens of 14c7fpS311NM2in8Q2jj7hXNwFcpYz5z3wyrSh3KwJn. Source: Lookon­chain

Inter­est­ing­ly, these spec­u­la­tive maneu­vers hap­pened dur­ing a huge meme coin boom in March. The cryp­tocur­ren­cy land­scape saw a gen­er­al­ized shift toward fun tokens, with Solana Net­work at the fore­front of this mania.

How­ev­er, meme coins are not advised assets to hold in an ide­al cryp­to port­fo­lio. This class of cryp­tocur­ren­cies lacks sol­id fun­da­men­tals to sus­tain any acquired demand in the long term. Finance experts usu­al­ly describe meme coin spec­u­la­tion risks accord­ing to “The Greater Fool The­o­ry,” which says:

“The Greater Fool The­o­ry is the idea that, dur­ing a mar­ket bub­ble, one can make mon­ey by buy­ing over­val­ued assets and sell­ing them for a profit lat­er, because it will always be pos­si­ble to find some­one who is will­ing to pay a high­er price. An investor who sub­scribes to the Greater Fool The­o­ry will buy poten­tial­ly over­val­ued assets with­out any regard for their fun­da­men­tal val­ue. This spec­u­la­tive approach is pred­i­cat­ed on the belief that you can make mon­ey by gam­bling on future asset prices and that you will always be able to find a “greater fool” who will be will­ing to pay more than you did. Unfor­tu­nate­ly, when the bub­ble even­tu­al­ly bursts (which it always does), there is a large sell-off that caus­es a rapid decline in the asset val­ues. Dur­ing the sell-off, you can lose a great deal of mon­ey if you are the one left hold­ing the asset and can­not find a buyer.”

– Har­ford Funds blog post: “The Greater Fool The­o­ry: What Is It?”

There­fore, spec­u­la­tors join­ing the spec­u­la­tive fren­zy late, fol­low­ing ‘smart traders,’ may end up with liq­uid­i­ty issues or face poten­tial crash­es, los­ing most of their short-term acquired prof­its. To avoid these con­se­quences, investors should focus on projects with sol­id fun­da­men­tals and sus­tain­able long-term demand.

Dis­claimer: The con­tent on this site should not be con­sid­ered invest­ment advice. Invest­ing is spec­u­la­tive. When invest­ing, your cap­i­tal is at risk.

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