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A lucky Cardano user successfully converts 0.5 ADA to a whooping 25,000 ADA. Here is the method he used to achieve this feat.
The crypto market is filled with stories of investors making huge returns from modest investments and someone losing a huge fortune during trades. A recent event in the Cardano ecosystem illustrates both scenarios, as an anonymous user benefitted immensely from another user’s pricing mistake during pool creation.
Transaction Details
According to reports, an anonymous user luckily converted a meager sum of 0.5 ADA ($0.2047) into a whopping 25,000 ADA ($10,235).
Notably, the unknown user sold 5 Dedium (DEDI) tokens at an inflated price of 4,670 ADA each due to a pricing error made by another user during pool creation. According to DexHunter founder Melon, the trade was executed on DexHunter, a leading Cardano-based decentralized exchange (DEX) aggregator known for its real-time routing updates.
Someone just turned 0.5 ADA into 25K ADA by selling 5 DEDI (@DediumNetwork) for 4670 ADA each because of someone’s mistake during pool creation🤯🤯🤯
The lucky trade was made via @DexHunterIO due to its real-time routing updates🔥 pic.twitter.com/iDlJGEnkX7
— melon (@onewisemelon) July 23, 2024
Another Cardano enthusiast, Conundrum, also confirmed the development via an X post yesterday, emphasizing that the lucky user turned 0.5 ADA into 25,000 ADA via the trade.
Conundrum indicated that a DEDI token was sold at 0.0925 ADA during its presale, which commenced on July 18, 2024. Notably, the user added a link to the transaction details, illustrating that the transaction occurred yesterday at around 10:16 AM (UTC).
Although the unknown lucky user made a massive return in the trade, Conundrum suggested that someone else got “rekt” in the process. For context, “Rekt” is a phrase in the crypto market indicating that a trader was utterly ruined due to losses from a trade.
This user just turned 0.5 ADA into 25K ADA by selling 5 DEDI for 4670 ADA each.
The price at presale was 0.0925 ADA.
TX Onchain:https://t.co/JRsNZDHkbV
Someone else must’ve gotten rekt. pic.twitter.com/Wraj2EzVO7
— Conundrum (@Conundrum97) July 23, 2024
Dedium Defends DexHunter, Shares Tips for Safe DEX Trading
Meanwhile, some community members blamed DexHunter for the pricing mistake. Reacting, Dedium, a Cardano-based decentralized GPU gaming network and the project behind the DEDI token defended DexHunter, noting that the DEX should not be blamed for any mistake.
The official X handle of Dedium urged users to always stick to an order book for trading DEDI, emphasizing the importance of verifying transactions before confirming them to avoid incurring losses.
It suggested that the trading tip extends beyond DexHunter to other decentralized exchanges on Cardano, including AXO and Sundae.
DexHunter is not to be blamed; our previous tweet was poorly worded. Stick to an order book for trading $DEDI easily, and always verify your transactions and amounts before confirming them, whether on AXO, DH, Sundae, or any other DEX.
— Dedium | Presale 18th of July (@DediumNetwork) July 23, 2024
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