Trading the Pumpfun-launched QUANT token, despite its ongoing rug-pull controversy, a crypto trader converted 2 SOL to $1M.
On Wednesday, a crypto trader caused a significant stir in the broader market by transforming a mere 2 SOL into an astounding $1 million trading QUANT. The most recent on-chain data indicates that a trader generated a substantial 2,141x return by investing in the token above, which has been the subject of recent market chatter. The token, which a child initiated through Pumpfun, is controversial due to its rug-pull saga.
Using this token, a cryptocurrency trader generates a 2,141x return
A crypto trader generated $988K in three hours with only two Solana tokens, according to data from the Lookonchain tracker dated November 20. It is important to note that the trader achieved a 2,141x return on his investment by trading the Pumpfun-launched coin mentioned earlier.
The data indicates that a trader purchased 18.89 million QUANT for 2 SOL and sold 3.71 million of the same token for 116 SOL. The trader has generated $27K as a result of this selloff. Concurrently, the extraordinary profit-booking strategy has attracted substantial market attention, with the current holdings amounting to $962K.
Additionally, as the QUANT token remains controversial, market observers continue to ponder whether the investor above is an insider or a member of wise money. The profit booking address was recorded as BsUTWpRfVc13Gfmi, as indicated by Solscan’s data.
What is the controversy surrounding the concept of quantity?
The QUANT token controversy has again become the topic of conversation in the market, highlighting the dynamic nature of the cryptosphere. It is important to note that a child initially launched this token through the Pumpfun coin launch platform. Nevertheless, the child promptly sold all of it for 128 SOL, equivalent to $30K, resulting in a $29.6K profit.
However, this rug-pull scenario, in contrast, encouraged a bullish impact on the token, primarily due to the “community taking over” the project. Consequently, the $30K value of coins the child sold is now assessed at $4 million due to the project’s growing support from the broader community.
Overall, this narrative has elicited substantial market discourse regarding the industry’s unpredictable nature, as it illustrates a crypto trader’s extraordinary profit despite the coin being rug-pulled. CoinGape Media reported that many crypto billionaires achieved comparable earnings during the bullish market. This is intriguing. According to reports, a meme coin trader generated a $3 million profit by trading ELIZA, an additional coin mired in controversy.