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Ginagawa ng Solana trader ang $49,000 sa $2 milyon sa loob ng 5 oras

Ginagawa ng Solana trader ang $49,000 sa $2 milyon sa loob ng 5 oras WikiBit 2024-04-29 00:17

A Solana (SOL) ecosystem cryptocurrency trader made nearly 4,000% of unrealized gains in a 5-hour trade, raising alerts for insider trading. The initial

  A Solana (SOL) ecosystem cryptocurrency trader made nearly 4,000% of unrealized gains in a 5-hour trade, raising alerts for insider trading. The initial investment worth $49,000 suddenly became a $2 million stack of TORI, a recently launched meme coin.

  Ayon sa isang ulat by , a trader spent 344 SOL, worth $49,000, to purchase 261.4 million TORI. The initial SOL originated from two Binance withdrawals to two new wallet addresses on April 25 and 26.

  Notably, the trader transferred the TORI tokens to multiple addresses on April 28, immediately after buying them. The 261.4 million TORI has a valuation of $2 million and reached approximately five hours after the trading activity.

  This raised an alert for insider trading, as and several other accounts commented on X (formerly Twitter). Furthermore, the addresses followed a similar behavior, suggesting they belong to the same entity.

  Insider trading?

  This guy turned $49K to $2M in just 5 hours, a gain of 41x!

  Inalis niya ang 345.6 $ SOL($49K) mula sa #Binance via 2 fresh wallets and spent 344 $ SOL($49K) para bumili ng 261.4M $TORI.

  He transferred the 261.4M $TORI to multiple wallets without selling them.

  $2 million-worth Solana trader may face liquidity issues

  However, the trader now needs to liquidate the tokens in order to realize these massive gains. In the highly volatile cryptocurrency landscape, unrealized profits can vanish as quickly as they were acquired.

  In particular, this token, now labeled Tori the Cat (TORI) by , is not properly identified by Raydiums platform. Raydium is a decentralized exchange where the suspect insider trader bought the $2 million-worth TORI with Solana.

  The platform‘s liquidity pool can only recognize Tori the Cat by its mint address ’D8F1F…dRexP. On that note, it has a 6,466.24 SOL and a 93.65 million TORI available liquidity for swaps.

  Tori the Cat (TORI) and Solana (SOL) liquidity pool. Source:

  Therefore, it is currently impossible to fully realize the $2 million profit while also being extremely challenging to realize any significant profit whatsoever.

  Trading meme coins and low-liquidity tokens is a high-risk endeavor and is not recommended for beginners. Before engaging with these cryptocurrencies, traders must remain cautious and properly understand how liquidity issues may affect profit realization.

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