Search
Crypto News
Altcoin
A Trader Made More Than 1000x Profit on a Little-Known Altcoin: But…
A Trader Made More Than 1000x Profit on a Little-Known Altcoin: But There’s a Problem
A crypto trader made over 1000x profit on an altcoin, according to onchain data, but there are doubts.
Author:
Mete Demiralp
27.09.2024 – 06:22
Update:
6 seconds ago
0
According to on-chain data provided by cryptocurrency analytics firm Lookonchain, a crypto trader had a surprising adventure.
According to the data, this trader saw the value of the altcoin he bought for $95 increase to $96.9 thousand in just 12 hours. This means an increase of more than 1000 times.
Related News
Analysts Give Date for Bitcoin’s New All-Time High
The altcoin in question, INCEPT, has similarly caused many cryptocurrency wallets to make profits of 1000 times or more, but these wallets are thought to belong to people from the altcoin development team, i.e. insiders.
All of these wallets were created 4 days ago and have only traded INCEPT so far.
The issue of insider trading continues to be a concern in the cryptocurrency market, especially in memecoins. In the first seconds of a token’s launch, these insider wallets buy a significant portion of the token’s total supply and then dump the price of the altcoin when they sell.
*This is not investment advice.
To invest in more than 300 cryptocurrencies, you can register with Binance exchange with 20% COMMISSION DISCOUNT from this link!
Follow our
Telegram
and
Twitter
account now for exclusive news, analytics and on-chain data!
Buradaki Yorumlardan Bildirim Al
Bildir
Benim yorumuma yeni yanıt geldiğinde
Label
Name:
Mail
Δ
Label
Name:
Mail
Δ
0
Comments
Latest
The oldest
Top Rated
Inline Feedbacks
View all comments