Cryptocurrency Traders Make Over $2 Million Each In Just 1 Hour

Paigambar Mohan Raj
Source: Watcher Guru

According to cryptocurrency analysis firm LookOnChain, two traders made over $2 million in just one hour trading the coin ZEUS.

The wallet address ending with GJ8KyJ spent 2.85 USDC to buy 7.74 million ZEUS tokens. The wallet holder then sold 7.41 million ZEUS for 5.33 USDC, making a profit of about $2.4 million.

Another wallet ending in 4BVu5p spent 3.48 million USDC to buy 7.8 million ZEUS. The wallet holder then sold 7.8 million ZEUS for 4.58 million USDC, making a profit of $2.1 million.

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The gains could be due to the Zeus Network’s recently securing $8 million in funding to enhance the Solana Network. Moreover, the popular cryptocurrency exchange OKX recently agreed to enable spot trading for ZEUS.

Cryptocurrency trader turns $13k into $2 million

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Apart from the two traders who made over $2 million each in under one hour trading the ZEUS token, another trader turned $13k into $2 million in about the same amount of time.

According to LookOnChain, the cryptocurrency trader spotter MOEW 10 minutes after opening trading and spent 4 ETH, worth about $13k, to buy 499.9 million MOEW tokens. The trader sold 111.65 million MOEW for 99 ETH, worth around $328,000, and currently holds 388.24 million MOEW worth about $1.76 million.

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Such rags-to-riches stories are plenty in the cryptocurrency space. However, investors should exercise caution when dealing with low market-cap projects. There is a possibility of a pump-and-dump, which could lead to investors losing all their money. Moreover, several scam projects emerge every day. While these projects may appear legitimate, they could take your money and disappear. Hence, it is of the utmost importance that investors do their research before buying any asset.