Meme coin buying and selling continues to warmth up throughout a number of networks, and lots of cryptocurrency merchants have gotten richer in consequence. Primarily the Solana meme coin continues to dominate, however different networks such because the BSC community are additionally beginning to see an uptick in curiosity. Particularly, one cryptocurrency dealer made $1.6 million in a single hour by buying and selling Meme cash on the BSC community. That is what they do.
Cryptocurrency Dealer Made $1.6 Million on BSC-Based mostly Meme Coin
Over the previous month, numerous meme tokens have been launched, with a number of meme packs being price tens of tens of millions of {dollars} in a matter of days. That is no completely different from the Massive Pump (PUMP) token that was launched on the BSC blockchain on March 25.
Benefiting from the hype surrounding the token launch, a BNB whale bought PUMP utilizing 6,000 BNB. On the time of buy, 6,000 BNB had been price $3.48 million, and the cryptocurrency dealer obtained 375.4 billion PUMP tokens in return.
As the value of the PUMP token rose over the subsequent hour, so did the whale’s holdings, finally topping $5 million. In keeping with Lookonchain information, the cryptocurrency dealer offered 360.4 billion PUMP tokens in a number of transactions with a complete worth of $5.08 million. Excluding the preliminary capital, the dealer made a revenue of $1.6 million from the sale.
again $pump Opening commerce, whale made 2,759 $BNB($1.6 million) $pump Lower than 1 hour!
He spent 0.24 on gasoline $BNB($138) and efficiently bought 375.4B $pump Price 6K $BNB($3.48 million).
Then offered 360.4B $pump 8,759 $BNB(USD 5.08 million), attaining a revenue of two,759… pic.twitter.com/8Ah6vGoqWx
— Lookonchain (@lookonchain) March 25, 2024
Lookonchain information exhibits that the cryptocurrency dealer initially left a steadiness of 15 billion PUMP tokens. Nevertheless, they offered one other 5 billion tokens and on the time of writing, their present steadiness is 10 billion. At PUMP’s present buying and selling value of $0.00001224, this steadiness is price $122,624.
Meme cash lead market features
Meme cash have been the leaders of this bull cycle up to now, and the efficiency of many cryptocurrencies that fall into this class has been spectacular. PEPE coin revived the meme coin motion, which was then additional fueled by Solana-based currencies like BONK and WIF, which each broke the $1 billion mark inside a yr.
Because the market strikes additional right into a bull cycle, there are different meme cash which have attracted consideration throughout this era. Ebook of Meme (BOME) is without doubt one of the meme cash that was listed on Binance and crossed the $1 billion market capitalization mark in at some point.
Different firms have adopted this trajectory, with firms like SLERF additionally making over $200 million in at some point. The BSC-based PUMP token additionally surpassed $50 million in market capitalization on its first day, demonstrating that curiosity in meme tokens is rising no matter blockchain.
BNB value drops to $591 amid meme coin explosion | Supply: BNBUSDT on Tradingview.com
Featured photographs from BSC Information, charts from Tradingview.com
