How a trader turned $2,000 into $3.2 million in 10 hours
January 07, 2025
On January 6, an unknown trader made a bet on the recently launched Hyperfy (HYPER) token on the Raydium platform. Starting with an investment of $2,137, he managed to earn over $3.24 million in just 10 hours.
According to the analytics platform Lookonchain, the trader sold 17.88 million HYPER tokens for 10,286 SOL ($2.21 million), keeping 4.12 million tokens worth $1.03 million. Hyperfy, a utility token for the metaverse and gaming platform, reached an all-time high of $0.26 after its launch, then dropped to $0.19. The market capitalization of HYPER now exceeds $198 million.
How to earn during market corrections?
This case is not unique: even during a crypto market downturn, accompanied by low liquidity after the holidays, some traders manage to rake in millions.
In December, another trader earned $1.1 million in unrealized profit in just two days by opening a short position on Ethereum using 5x leverage. This strategy was profitable due to the drop in ETH prices during a bearish trend.
Cases with Meme Coins
Not only major tokens but also meme coins can yield massive profits. In December 2024, a trader turned $27 into an incredible $52 million by investing in Pepe (PEPE). This cryptocurrency demonstrated over 1600% growth in profitability over the year, becoming the second most profitable among the top-100 tokens.
Takeaways for investors
Even in a declining cryptocurrency market, opportunities for growth remain if the right tools are chosen. Metaverse tokens are emerging as a new asset class, actively attracting traders due to their potential. Meanwhile, meme coins, despite lacking practical utility, exhibit high volatility and can bring significant profits to those willing to take on higher risks.