The Story Behind a Crypto Trader Turning $378K into $35.2M

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As a seasoned researcher with over two decades of experience in the financial markets, I must say that the story of this crypto trader turning $378k into $35.2M in just 11 months is nothing short of remarkable. While I’ve seen my fair share of impressive trading success stories, this one stands out for its steady and calculated approach.

Over the past 15 years, the cryptocurrency trading sector has experienced explosive and remarkable expansion, handling trillions of dollars in daily transactions. Bitcoin, in particular, has been a major catalyst for this growth, consistently expanding. It has drawn in millions of investors and spawned numerous other cryptocurrencies. Some trades have become legendary within the community due to their strategic placement, creating captivating tales. For instance, there’s a story about a crypto trader who transformed an initial $378,000 into $35.2 million in only eleven months, demonstrating the potential of the cryptocurrency market.

Crypto Trader Made $34.8M in Profits

Over the past fortnight, the cryptocurrency market has experienced a surge, propelling numerous digital currencies to unprecedented highs. This upward trend can be attributed to optimistic investor feelings after Donald Trump’s victory in the U.S elections and Bitcoin reaching an all-time high of $97,862.64. As a result, Bitcoin has skyrocketed by over 130% since the start of the year.

Meanwhile, this bullishness was established, and a crypto trader built a fortune with crypto trading in OM, one of the most popular cryptos. As the Lookonchain post reveals, the trader turned his $378k investment into $35.2M within a year. This happened when the trader bought 9.33M OM tokens with three crypto wallets at $0.04 and kept holding all these tokens for 11 months before depositing 4M OM on Binance a few hours ago. More importantly, he still holds 5.33M OM, worth $19.86M, bringing the total to $35.2M.

Without trading #memecoins, the whale turned $378K into $35.2M in just 11 months, a massive profit!

11 months back, a whale associated with Manifold Trading amassed approximately 9.33 million dollars worth of OM (equivalent to around 378 thousand dollars) at a price of $0.04. Just four hours ago, it transferred 4 million dollars worth of OM (valued at about 15.32 million dollars) into Binance, leaving behind approximately 5.33 million dollars worth of OM (equivalent to around 19.86 million dollars).

— Lookonchain (@lookonchain) November 21, 2024

Though the crypto trading industry has created opportunities where crypto traders earn millions in just a few hours or days, this trader clarified how slow and steady wins the race. More importantly, he ditched the memecoins trend and opted for a utility-based altcoin Mantra (OM). As a result, he has bagged $3.48M in profits in just 11 months.

OM Price Attained an ATH With a 6089% Surge

35th largest cryptocurrency, OM, boasts a market capitalization of approximately $3.27 billion on CoinmarketCap. This ascent came about following a staggering year-to-date growth of 6089%. The impressive increase has drawn in numerous investors captivated by its promising growth trajectory. Over the past two months, the Mantra token has reached several all-time highs, delivering returns to its holders. One investor pocketed a significant $6 million profit, capitalizing on the consistent price surge.

Lately, the OM token reached an all-time high (ATH) of $4.47 only three days back. But since then, it has entered a period of consolidation, causing investors to drive the token into an overbought state, triggering a price reversal. Consequently, the token’s value dropped by 19% within these three days, now standing at $3.61. Yet, there is optimism due to robust buying interest in the token.

Specifically noteworthy is the confirmation from Binance about the addition of the OM/USDC trading pair as of November 22. This could potentially escalate the interest and demand for the token further.

Bottom Line

This crypto trader amassed an impressive profit of $34.8 million using strategic trading techniques, all from a single token – OM. Initially investing $378,000 and acquiring 9.33 million OM tokens when the price was only $0.04, this shrewd trader watched as the value of OM skyrocketed by an astounding 6,089% over the course of 11 months. This significant increase in value generated substantial profits for its holders. The crypto trading community has been impressed by the trader’s disciplined approach to HODL (holding onto assets) and timing his trades correctly. What stands out even more, however, is that a sizable portion of these tokens remain in his personal wallet, hinting at anticipation for an even bigger surge in value.

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2024-11-21 11:32