In cryptocurrency trading, remarkable success stories often emerge, showing the potential for significant returns. One such story is that of an anonymous crypto trader who recently managed to turn a $23 million portfolio into $65 million over the course of a year, according to insights from Lookonchain, a crypto analytics platform.
This $42 million profit highlights the trader’s smart move in the volatile cryptocurrency market. The trader leveraged strategic investments in tokens such as PEPEONDO and BEAM to make substantial gains.
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Maximizing returns through accurate market timing
This trader’s journey started with a crypto strategy investment in PEPE, which alone yielded a return of $60 million. The trader demonstrated a deep understanding of market trends and the token’s potential, capitalizing on market timings and price fluctuations.
Notably, the trader’s investment in PEPE resulted in a 1,203% earnings return. Initially investing 2,434 ETH (valued at approximately $5 million) to acquire 3.97 trillion PEPE, the trader sold 125 billion PEPE for 350 ETH, or approximately $1.27 million, at peak prices.
The remaining stakes in PEPE were valued at US$56.43 million, according to data from Lookonchain.
What a smart trader!
In just 1 year, his portfolio grew from US$23 million to US$65 million, earning US$42 million!
– Earned $60 million (+1203%) in $PEPE!
– Earned $5.8 million (+288%) in $ONDO!
– Earned $1.85 million (+72%) in $BEAM!
1/ Let’s delve deeper into his negotiations.👇 pic.twitter.com/ahSmmwsJIz
– Lookonchain (@lookonchain) May 24, 2024
In addition to PEPE, the trader diversified his cryptocurrency portfolio by investing in ONDO and BEAM, each offering different returns and market behavior. The investment in ONDO resulted in a profit of 5.8 million dollars with a return on investment (ROI) of 288%, demonstrating effective diversification and asset selection strategies.
Although BEAM provided the lowest return among the three, it still contributed positively to the trader’s portfolio. An initial investment led to an ROI of 72%, which, although lower compared to PEPE and WHEREdemonstrates the importance of portfolio diversification.
It is important to note that this diversification into cryptocurrencies helps balance risks and improve the overall stability of investment returns across different market conditions in the cryptocurrency market.
Performance Overview of the 3 Crypto Tokens
Among the three tokens that the trader uses to guarantee substantial returns on investment, PEPE emerged as the leader, followed by ONDO and BEAM.
Recently, PEPE achieved notable milestones, reaching new all-time highs. In the last week, the asset experienced an increase of more than 40%and an additional 4% increase on the previous day, reaching a new peak of $0.00001526.
Despite this recent increase, the value of PEPE fell 6.8% from its highest point, now trading at US$0.0000144.
Meanwhile, ONDO marked a new all-time high earlier today at $1.15, but has since retraced 2.7%, with its current price at $1.12. This represents a substantial increase of 15.8% in a single day, cementing a week-long upward trend that saw the token’s price rise by almost 20%.
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BEAM, however, showed more modest gains compared to the other two. In the last day and week, it registered increases of 1.5% and 7.9%, respectively.
BEAM is currently trading at $0.02736. Notably, this marks a significant decline of approximately 38% from its early May high of $0.04416, indicating less volatility and smaller gains than its counterparts.
Featured image created with DALL·E, TradingView chart