Crypto trading is no less a roller coaster, as it offers high risks and rewards. More importantly, there are incidents when rewards can turn into risks and vice versa, as the high volatility often challenges the crypto market. However, some traders beat the odds and managed heavy gains, but some incidents even ended up pushing them down. The same happened with this crypto trader, who lost $454k within 40 minutes after his bet ended disastrously.
Crypto Trading Downtrend Cost $454K To This Crypto Trader
Like any crypto investor, this one investor also looked for a promising opportunity that could make heavy gains. He invested 3.396 Sol, worth around $587K, into a newly launched token ANT and bought $4.7M tokens within a single transaction. With such a high investment, it is understandable that the crypto trader was quite positive about his trades. However, with the market’s change of plans, the profits ended up in losses as he had to sell all these tokens within the next 40 minutes, with a heavy loss.
Lost 2,623 $SOL($454K) in less than 40 minutes!
This trader spent 3,396 $SOL($587K) to buy 14.7M $ANT in a single transaction.
Less than 40 minutes later, he capitulated and sold it all for just 773 $SOL($134K).https://t.co/mgpJzvx8GE pic.twitter.com/kCfbQk2Unn
— Lookonchain (@lookonchain) October 24, 2024
Per the Lookonchain post, within 40 minutes of buying, the ANT price plummeted heavily due to high volatility. As a result, in a state of panic, the trader sold all his tokens for just 773 SOL, equivalent to just $134K. In these few minutes, the investor’s mind turned from making a fortune to saving his losses. It confirms how volatility can transform people from winners to losers with crypto trading. However, it is not about losses, another investor turned $296 into $620K in 4Hrs, revealing the possibility of high gains as well.
Not The Only Crypto Trader Affected With Volatility
Although the crypto market’s performance is neutral with Bitcoin price consolidating, it was quite bullish before this. The last few days have been quite disappointing, and with the user’s sentiments turning from greed to neutral, a few cryptos have changed their price trajectory, causing losses for many holders. Considering this situation, Lookonchain also highlighted an investor’s case, which had a history of millions in profits but is bearing losses today.
As per the post, a crypto trader who made $3.7M on the popular Solana meme coin BOME is now rugged on SHAR. This trader has made heavy profits with BOME after spending 2,620 $SOL to buy 345.35M $BOME and selling for 21,159 $SOL. With this bet, he made 18,539 $SOL or $3.7M in profits after implementing impressive crypto trading strategies.
Even the trader who profited 18,539 $SOL($3.7M) on $BOME got rugged on $SHAR.
This trader spent 2,952 $SOL to buy 27M $SHAR and sold for 471 $SOL, losing 2,481 $SOL($429K).
He previously spent 2,620 $SOL to buy 345.35M $BOME and sold for 21,159 $SOL, making 18,539 $SOL($3.7M).… pic.twitter.com/1GayR5We2Z
— Lookonchain (@lookonchain) October 24, 2024
However, the wheel of fortune turned, and his SHAR crypto trading bet turned into a complete loss. This happened after the trade spent 2,952 $SOL to buy 27M $SHAR but ended up selling them for just 471 $SOL, losing 2,481 $SOL($429K).
What’s The Lesson Here?
In most losing trades, timing and market manipulation are to blame, where the investors probably have put the trade at the wrong time or exited at the wrong. It is a sign of an unclear exit strategy, where the investors end up in a panic selling. More importantly, they have lacked proper crypto trading risk management, which made them lose major portions of their investments. Here, both the mentioned crypto traders made the same mistake, ending the trade when the token was bearing losses. It clarifies why proper risk management and timing are a necessity in this challenging crypto market.
The post How This Crypto Trader Lost $454K in Less Than 40 Minutes? appeared first on CoinGape.
