Become a crypto millionaire in an hour?
With the current market momentum, impressive performances are multiplying in the crypto industry. Investors pocket massive gains by taking risky bets, while others become millionaires overnight.
To go further: Crypto millions: how to become a millionaire for less than $100?
In this story, our visionary trader made an exceptional move, reaping profits in just one hour. Spotted by on-chain analyst Lookonchain, this trader invested $318,000, or 1,558 SOL, to buy 10.9 million ACT tokens on Raydium, a DEX developed on Solana. In less than an hour, his portfolio had grown to $3.4 million, a tenfold return.
This success coincides with the listing of ACT on Binance this Monday, November 11. At the time of writing, the token is up 2,242% on the platform, with trading volume reaching $606 million.
But a question remains: did this trader demonstrate insight in anticipating the explosion of the meme token and betting on a potential listing on Binance? Or is it an insider who took advantage of privileged information to make this bet?
Suspicions surrounding insider movements continue to agitate the crypto sphere, particularly since the scandal involving an insider trader on the GOAT token meme.
To go further: Crypto millions: how to become a millionaire in 4 days?
What do we know about ACT?
ACT, or Act 1: The AI Prophecy, is a meme token focused on artificial intelligence. Its creators aim to promote AI literacy, make this technology more accessible, and provide the community with the means to better understand it. The objective is to build a community around AI, with a simple and educational approach.
The project was initially co-founded by AmplifiedAmp, an influential figure in the crypto world. However, after liquidating its positions in ACT, AmplifiedAmp withdrew, leaving the community to continue development. Despite this withdrawal, ACT was able to attract a loyal audience, seducing with its promise of accessible AI technology.
Issued on October 19, the ACT initially evolved discreetly, with a capitalization of $15 million. Everything changed when Binance and other major platforms decided to list it. In a few hours, ACT’s capitalization jumped to reach $409 million, propelling the token into the spotlight of the crypto sphere.
Moral of the story: In crypto, sometimes it only takes a minute to go from struggling to millionaire… or vice versa!
Disclaimer
Disclaimer: In accordance with The Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent information. This article aims to provide accurate and relevant information. However, we encourage readers to verify the facts on their own and consult a professional before making any decision based on this content.
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