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Trader earned $1.25M by spending 82 SOL to acquire 26.8% of BUZZ token supply.
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Trader spent 49 SOL to secure a first-mover advantage in the BUZZ token launch.
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Token sniping demands timing precision but offers extraordinary returns in volatile crypto markets.
According to blockchain analytics platform Lookonchain, a crypto trader made a remarkable profit of 6,008 SOL, worth approximately $1.25 million, in just 8 minutes by sniping BUZZ tokens. This profit highlights the exciting, yet risky, opportunities in the fast-moving crypto world.
Trader Nets $1.25M in 8 Minutes
Lookonchain brought this impressive trade to light, showcasing that the trader spent 82 SOL, valued at $17,000, to purchase 268.12 million BUZZ tokens. This amounted to 26.8% of the total token supply.
Someone earned 6,008 $SOL($1.25M) in just 8 minutes by sniping $BUZZ!
This trader spent 82 $SOL($17K) to snipe 268.12M $BUZZ(26.8%), of which he paid a transaction fee of 49 $SOL to be able to buy first.
Then he quickly sold all $BUZZ for 6,090 $SOL($1.26M) in 8 minutes,… pic.twitter.com/UCCf9CYGfw
— Lookonchain (@lookonchain) January 3, 2025
However, to secure a first-mover advantage, the trader paid a transaction fee of 49 $SOL, ensuring they were one of the first to purchase the tokens.
Once the BUZZ tokens were acquired, the trader acted fast. In just 8 minutes, they sold all their holdings for 6,090 SOL, equivalent to $1.26 million. After eliminating the initial investment and transaction fees, the trader earned a profit of $1.25 million.
Role of Sniping in Crypto Trading
Sniping in crypto refers to quickly buying tokens ahead of others, hoping to sell at a higher price shortly after. While highly rewarding, it is a risky strategy that demands expertise and precise timing.
Such trades underscore the evolving nature of the crypto market, where timing and strategy can lead to extraordinary gains.
