25 May 2024
In cryptocurrency trading, remarkable success stories often emerge, showcasing the potential for significant returns. One such story is that of an anonymous crypto trader who recently managed to turn a portfolio of $23 million 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 money move in the volatile crypto market. The trader leveraged strategic investments in tokens such as PEPE, ONDO, and BEAM to achieve substantial gains.
Maximizing Returns Through Precise Market Timing
This trader’s journey began with a strategic crypto investment in PEPE, which alone yielded a return of $60 million. The trader demonstrated a deep understanding of market trends and token potential by capitalizing on market timings and price fluctuations.
Notably, the trader’s investment in PEPE resulted in a 1203% return in gains. 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 around $1.27 million, at peak prices.
The remaining holdings in PEPE were valued at $56.43 million, according to data from Lookonchain.
What a smart trader!
In just 1 year, his portfolio grew from $23M to $65M, earning $42M!
– Made $60M(+1203%) on $PEPE!
– Made $5.8M(+288%) on $ONDO!
– Made $1.85M(+72%) on $BEAM!
1/ Let’s dig into his trades. pic.twitter.com/ahSmmwsJIz
— Lookonchain (@lookonchain) May 24, 2024
In addition to PEPE, the trader diversified their crypto portfolio by investing in ONDO and BEAM, each offering different returns and market behaviors. The investment in ONDO resulted in a $5.8 million profit with 288% return on investment (ROI), showcasing effective diversification and asset selection strategies.
While BEAM provided the least returns among the three, it still contributed positively to the trader’s portfolio. An initial investment led to a 72% ROI, which, although smaller relative to PEPE and ONDO, demonstrates the importance of portfolio diversification.
It is worth noting that such diversification in crypto helps balance the risks and enhance the overall stability of investment returns across different market conditions in the crypto market.
The 3 Crypto Tokens Performance Overview
Among the three tokens the trader utilizes to secure substantial returns on investment, PEPE has emerged as the leading performer, followed by ONDO and BEAM.
Recently, PEPE has achieved notable milestones, ascending to new all-time highs. Over the last week, the asset has experienced a surge of over 40%, and an additional 4% increase in the past day, reaching a new peak at $0.00001526.
Despite this recent uptick, PEPE’s value has receded by 6.8% from its highest point, now trading at $0.0000144.
Meanwhile, ONDO marked a new all-time high earlier today at $1.15 but has since retracted by 2.7%, with its current price at $1.12. This represents a substantial 15.8% increase within a single day, cementing a week-long upward trend that has seen the token’s price climb by nearly 20%.
BEAM, however, has shown more modest gains compared to the other two. Over the past day and week, it has recorded increases of 1.5% and 7.9%, respectively.
Currently, BEAM is trading at $0.02736. Notably, this marks a significant drop 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, Chart from TradingView