An individual has won the crypto trading lottery, making $6.8 Million within two months. It happened after the crypto trader invested in the newly rising crypto token SPX6900, whose recent exponential gains made millions of dollars for its holders. More importantly, a new hype has surrounded this token, pushing it to new ATH.
Such heavy gains in the bear-dominated market are a giant milestone, making others question how high the gains could go in the future. At the same time, many people are losing money in crypto scams, creating fear among others. Just recently, an investor lost $35M in a Phishing Scam.
How Did Crypto Trading Make $6.6M for This Crypto Trader?
Crypto trading is one of the most popular investment methods at this time. Over the last few years, crypto adoption has also grown exponentially, attracting more and more investors. However, the biggest attraction is such crypto trader’s heavy gains. However, it is not so common, as many factors impact the token’s price. It is why this investor’s milestone is quite impressive.
Lookonchain, a popular crypto analytics page on X, revealed how this crypto trader made $6.85M from $161K. He began this crypto trading journey by investing $161K and buying 7.79M $SPX around two months ago. The trader has been holding these assets to this day before selling a small portion a few hours ago.
A #SPX6900 whale is selling $SPX for profit!
He spent only $161K to buy 7.79M $SPX 2 months ago and started selling $SPX 11 hours ago.
So far, he has. sold 638K $SPX($562K) at $0.88, leaving 7.15M $SPX($6M).
His profit on $SPX is $6.4M, a 40x return!https://t.co/jFXZm5nNKW pic.twitter.com/meHzNSwtEa
— Lookonchain (@lookonchain) October 14, 2024
As per the Lookonchain X post, this trader sold 638K $SPX around 15 hours ago at $0.88 per token. With this, he has made $562K and still holds another 7.15M $SPX, worth around $6.2M ($0.88/token).
Overall, in these two months, the trader has made a 40x return on his investment, bagging $6.6M in profits alone. Meanwhile, another trader made $3.37M in profits in 1 month, revealing how the right trades still make gains in the slow crypto market.
Will The SPX6900 Holding Value Grow Even More For This Investor?
The crypto trader has already made significant gains but failed to bag the best opportunity. It is because just four hours before his selling, the SPX6900 hit a new all-time of $0.9599, which could have made his entire investment worth $7.4M, way more than the current status.
More importantly, the investor only sold a small portion of his total tokens and is still holding more, which is putting him at risk. It is because the SPX price has declined significantly ever since then, currently at $0.8499, thanks to consolidation past a new milestone. With this, the investors remaining holding has declined from earlier $6.2M to $6M.
However, despite that, this crypto trading experience is quite impressive, especially because of his investing in top cryptos to buy. Additionally, the technical indicators indicate a consolidation, which might settle in the next few hours or days, providing a new price trajectory for the token. It has to see what the holding will be worth and when the trader will sell next.
What’s Next in Your Trading Journey?
In an impressive crypto trading bet, an investor turned $161K to $6.85M within two months after the SPX6900 price hit a new ATH. However, the crypto trader missed the ATH peak and sold a portion of his holding hours after the ATH, still making heavy gains. As per the last Lookonchain report, the trader has sold 638K $SPX ($562K) and still holds another 7.15M $SPX, worth around $6M per the current price of $0.8499. With this, he made an overall profit of $6.4M despite today’s consolidation. However, such heavy gains are not as common as many might think. The crypto market is full of challenges and restricting factors to maintain stability. Moreover, many external factors put hurdles in the token’s performance, which could build or destroy an investor’s entire portfolio. This is why investing with proper research and opting for safe options is the best mindset to outlive.
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