In the downward trend of the cryptocurrency market, some traders have still managed to earn astonishing profits.
Recent Traders
Turnaround
An initial investment of $8,000 turned into $800,000 within one hour. This was achieved through trading the new CTO meme coin launched on the Raydium protocol via the MakeNow.Meme platform.
Starting from 50
Solana (SOL)
The trader acquired 25.68 billion CTO tokens. Within an hour, most of the tokens were sold at a price of 4,771 SOL, yielding approximately $802,500 in profit.
Earlier in the day, the trader also saw significant gains with another token, PFI, on Raydium. An investment of $3,400 in PFI turned into $104,000, a return of 30 times.
Read more:
Solana achieves its first-ever decentralized exchange (DEX) trading volume surpassing Ethereum
These rapid gains illustrate the high-risk, high-return nature of the cryptocurrency market, particularly with new meme coins. Currently, CTO trades at $0.00466 with a market cap of $46,000, while Solana faces short-term losses trading at approximately $168.
Overall, substantial profits can be made in the volatile cryptocurrency space, but not without significant risks.
