In sync with the recent market fluctuations affecting major cryptocurrencies like Bitcoin and Ethereum, Solana experienced a dip in its value, initially hovering around the $77.75 zone. SOL faced a drop below key support levels at $75 and $70.
Despite this downward trend, bullish activity emerged above the $65 support level, propelling Solana to a commendable recovery, witnessing a gain of over 10% and currently trading at $72.80.
Insights from Lookonchain shed light on the thriving Solana ecosystem, drawing attention from traders who seized opportunities within the network and realized substantial profits.
As the #Solana ecosystem prospered, some traders began to trade tokens on #Solana and make money.
This trader made $183K(201x) on $MYRO, 1,947 $SOL($139K, 97x) on $WIF and 348 $SOL($25K, 35x) on $CORN.
Turned $3K into $350K in 1 month.
1/🧵
Let’s dig into his trades.👇 pic.twitter.com/NUvQNvAWOH
— Lookonchain (@lookonchain) December 14, 2023
Traders Making Massive Gains From Solana
One trader’s success story unfolds with impressive gains on various Solana-based tokens. The trader reportedly made $183,000 (201x) trading $MYRO, 1,947 $SOL ($139,000, 97x) on $WIF, and 348 $SOL ($25,000, 35x) on $CORN.
Detailing the trader’s strategic moves, they invested 911 $USDC to acquire 11.4 million $MYRO on Nov 9, subsequently selling 9.8 million $MYRO for 157,984 $USDC. Presently, the trader holds 1.43 million $MYRO (valued at $26,000), with the overall profit exceeding an impressive ~$183,000 (201x).
The trader also engaged in Solana’s token market by spending 20 $SOL to purchase 8.18 million $WIF on Nov 25. Following this, they sold 7.93 million $WIF for 1,887 $SOL today. With a current holding of 250,000 $WIF (worth approximately 80 $SOL), the total profit stands at 1,947 $SOL ($139,000, 97x).
In the final move, the trader invested 10 $SOL to acquire 9.26 billion $CORN on Nov 17, later selling 1.26 billion $CORN for 60.86 $SOL. The trader currently holds 8 billion $CORN (valued at approximately 297 $SOL), with a total profit of 348 $SOL ($25,000, 35x).
Solana’s resilient performance and the lucrative trading opportunities within its ecosystem continue to capture the attention of traders seeking diverse and profitable token ventures.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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