This Trader Made $3M from ACT, 1 Hour After Binance Announced Listing
the anonymous investor invested a mere 1,558 $SOL, equivalent to $318,000 at the time, to acquire 10.9 million $ACT tokens.
A trader pocketed over $3 million in just one hour by capitalizing on Binance’s announcement to list the new cryptocurrency ACT.
Binance Fuel ACT Surge
The world’s leading cryptocurrency exchange announced the listing of $ACTÂ on its platform. Within seconds, a trader, who remains anonymous, seized the opportunity.
The anonymous investor invested 1,558 $SOL, equivalent to $318,000 at the time, to acquire 10.9 million $ACT tokens. The timing was impeccable the token’s price surged dramatically after the listing, catapulting the value of their initial investment to a staggering $3.4 million within an hour.
An analyst on X believes that the trader likely used a combination of technical analysis, market research, and the ability to identify and exploit arbitrage opportunities, though the specific details of their strategy remain undisclosed.
Traders Capitalize on Binance Listings
In an identical strategy, this trader generated a profit of $140,000 in under 20 minutes. The catalyst for this profit was the announcement of the listing of the $MOODENG perpetual contract on Binance, a leading cryptocurrency exchange.
The trader acted swiftly upon the news. At the precise moment Binance announced the listing, he deployed 1,300 $SOL to acquire 2.77 million $MOODENG tokens.
However, they immediately sold the initial purchase, generating a profit of 809 $SOL, equivalent to $140,000. These rapid transactions, known as ” flash trades,” capitalize on the immediate price spike that often occurs following a new listing announcement.
Notably, this instance is not an isolated occurrence. The same trader, employing a similar strategy, secured a profit of $99 $SOL ($17,000) the previous day when Binance listed the $GOAT perpetual contract. This pattern highlights the trader’s expertise in identifying and exploiting market opportunities presented by new listings.
Nonetheless, while these remarkable feats demonstrate the potential of skillful market maneuvering, it is crucial to recognize the inherent risks associated with such strategies. The volatile nature of the cryptocurrency market can swiftly turn gains into losses. “Flash trading requires a high degree of technical proficiency, a deep understanding of market dynamics, and access to sophisticated trading tools” an X analyst named @Cryptosavvy opined.
