By deploying a bot on a perpetuals exchange, the trader scaled $6,800 into $1.5 million through maker rebates and microstructure precision.
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The savvy trader made an over 1,500-fold return on investment despite the broader crypto market slump.
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Beyond the $1.1 million unrealized profit, the trader earned over $680,000 worth of funding fees on his short position, ripe for liquidation above $4,750.
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Despite having no intrinsic value, memecoins have created many new millionaires among crypto investors.
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Memecoins have turned numerous cryptocurrency investors into millionaires despite their intrinsic lack of utility.
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A trader who lost $25 million after accidentally copying and pasting the wrong transfer address is offering a $2.5 million reward to white hackers in the hopes of getting their money back.
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The unknown crypto trader only invested $3,000 into a new Solana-based memecoin before its price rally.
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The trader lost over $1 million within a single hour, not realizing that the Real Madrid footballer’s account was hacked before endorsing the scam token.
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Crypto traders are pointing to the M2 money supply turning positive as a bullish signal for Bitcoin.
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Despite coming up short of his goal, crypto trader Thomas Kralow said the crypto-funded expedition was all about two things: “Bitcoin and happiness.”
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