Unlucky Trader First Made $1.2 Million on This Altcoin, Then Lost It All

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Bitcoinsistemi2024/09/12 11:48

By:Mete Demiralp

According to the data, an unlucky trader first made a fortune in an altcoin but then lost almost all of it.

According to cryptocurrency onchain data provider Arkham, a trader has embarked on an intriguing trading adventure.

Data shows that this trader used his initial investment of $80,000 to buy an altcoin, then increased his net worth to $1.2 million, before losing it all.

XCkM, a trader who is actually known for trading Solana-based altcoins, bought $80,000 worth of AURA tokens within 3 weeks of its launch, according to onchain data. The data showed that at the peak of the crypto wallet’s wealth, the altcoin’s price rose to $1.22 million. During this period, AURA’s total market value briefly exceeded $75 million.

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However, things started to get worse for the trader after this stage. AURA, a memecoin, lost a lot of value with the arrival of the bear market wave affecting the cryptocurrency market, and the value of the trader's total assets dropped to $91,000.

On the bright side, the trader has not suffered any losses from his principal so far.

*This is not investment advice.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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