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Finbold 2024-12-19 18:56:55

Crypto trader turns $90 into $3.25 million in just two days

Crypto trader turns $90 into $3.25 million in just two days

A cryptocurrency trader has recorded an extraordinary 36,067-fold return on their investment by betting on a new Solana ( SOL ) meme coin, Unicorn Fart Dust (UFD). The trader initially invested 0.4 SOL, equivalent to $90.28, to purchase 12,980,490.53 UFD tokens. Over the course of 48 hours, the trader executed two significant swaps. First, exchanging 50,000 UFD for 13.27 wSOL, valued at $2,856.51. Then, swapping 30,490.53 UFD for 7.96 wSOL, worth $1,713. The remaining 12.9 million UFD tokens were valued at $3.25 million. The trader’s initial purchases of UFD. Source: Solscan However, this valuation hinges on market liquidity and demand, as meme coins like UFD are known for their extreme volatility and limited market depth, making such gains challenging to fully realize. UFD token – A meme coin born from humor Unicorn Fart Dust was created as a commentary on the speculative nature of cryptocurrencies. Its very existence is satirical, poking fun at the ease with which digital assets can surge in value without any underlying utility. Despite its humorous beginnings, the token quickly became a viral sensation, ranking as the second most traded on-chain asset within 48 hours of its launch, surpassed only by major market players. 🚨 New: YouTuber @BasementRon , known for his gold and silver content, created the “Unicorn Fart Dust” ($UFD) token to mock crypto and prove a point that crypto is worthless. In 2 days, $UFD hit a $240M market cap, becoming the 2nd most traded on-chain asset in the last 24 hours. pic.twitter.com/aqPCXQDLUi — SolanaFloor (@SolanaFloor) December 19, 2024 While UFD’s success is undeniably fascinating, it also raises broader questions about the appetite for speculative investments in the cryptocurrency space. Investors were drawn to UFD purely for its entertainment value, yet its meteoric rise shows a deeper phenomenon—the willingness of market participants to chase high-risk assets for the promise of outsized rewards. By press time, UFD was trading at $0.1742 with a market capitalization of $174 million. Moreover, investing in coins like UFD also exposes investors to other risks, such as the lack of liquidity, potential rug pulls, and death spirals that are occasionally seen in these financial bubbles that surge from time to time. Featured image via Shutterstock The post Crypto trader turns $90 into $3.25 million in just two days appeared first on Finbold .

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