Crypto Trader Made $1.5 Million in Few Hours After Token Surged 7,777%
A savvy crypto trader recently executed a highly profitable cryptocurrency trade, making a significant gain within a few hours. By purchasing 3AC tokens at a strategic time, the trader demonstrated sharp market instincts, ultimately yielding substantial returns.
The tokens in question belong to Su Zhu and Kyle Davies and relate to their defunct company, Three Arrows Capital (3AC). The two suffered major setbacks in 2021, leading to bankruptcy, but the duo announced a revival of their new venture on X.
Crypto Trader Made $1.5 Million in Few Hours
Made 561 $ETH($1.5M) in just 7 hours! #3AC
This sniper spent 238 $ETH($641.5K) to snipe 28.03M $3AC the first time $3AC opened trading.
Then sold 24.95M $3AC for 799 $ETH($2.15M).
This guy made 561 $ETH($1.5M) and still holds 3.08M $3AC($369K).https://t.co/dxpwmsMXHM pic.twitter.com/RfEP3Nclvx
— Lookonchain (@lookonchain) September 28, 2024
Lookonchain revealed that the trader purchased 28.03 million 3AC tokens with 238 ETH, valued at $641,500. They soon sold 24.95 million tokens, gaining 799 ETH, worth $2.15 million. The trader still holds a portion of the original investment, with profits totaling 561 ETH ($1.5 million) within just seven hours. This impressive trade has garnered significant attention in the crypto community, highlighting the lucrative opportunities from the market’s volatility.
Machi Big Brother has invested 125 ETH, approximately $336.8K, to purchase 3.28 million $3AC tokens. The acquisition was made at an average price of $0.1028 per token.
This purchase comes when 3AC, or Three Arrows Capital, is attempting a revival after its high-profile collapse during the previous crypto bull run. The company, co-founded by Zhu Su, went bankrupt after several failed leveraged bets on various digital assets.
Despite its downfall, a growing number of cryptocurrency whales seem to be betting on 3AC’s comeback. Several large investors have shown interest in acquiring $3AC tokens, suggesting confidence in the firm’s rebuilding efforts. These whales appear to support the revival, signaling optimism remains in certain parts of the crypto community.
Machi Big Brother(@machibigbrother) spent 125 $ETH($336.8K) to buy 3.28M $3AC(by @zhusu) at an average price of $0.1028. #3AChttps://t.co/rehOcePKqm pic.twitter.com/AcdvTkqxxU
— Lookonchain (@lookonchain) September 28, 2024
Machi Big Brother’s substantial purchase further highlights the renewed belief among some investors in the recovery potential of the 3AC project. Whether this marks the beginning of a successful turnaround for Three Arrows Capital remains to be seen, but it has certainly caught the attention of market participants.
In conclusion, the rapid profit the trader generates in just a few hours highlights the opportunities and risks present in the volatile crypto market. Three Arrows Capital (3AC) ‘s resurgence and new ventures have attracted considerable attention from investors whose strategic purchases demonstrate confidence in the firm’s revival.
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