The post Trader Made $1.25 Million in 8 Minutes by Sniping BUZZ Tokens appeared first on Coinpedia Fintech News According to blockchain analytics platform Lookonchain, a crypto trader made a remarkable profit of 6,008 SOL, worth approximately $1.25 million, in just 8 minutes by sniping BUZZ tokens. This profit highlights the exciting, yet risky, opportunities in the fast-moving crypto world. Trader Nets $1.25M in 8 Minutes Lookonchain brought this impressive trade to light, showcasing that the trader spent 82 SOL, valued at $17,000, to purchase 268.12 million BUZZ tokens. This amounted to 26.8% of the total token supply. Someone earned 6,008 $SOL ($1.25M) in just 8 minutes by sniping $BUZZ ! This trader spent 82 $SOL ($17K) to snipe 268.12M $BUZZ (26.8%), of which he paid a transaction fee of 49 $SOL to be able to buy first. Then he quickly sold all $BUZZ for 6,090 $SOL ($1.26M) in 8 minutes,… pic.twitter.com/UCCf9CYGfw — Lookonchain (@lookonchain) January 3, 2025 However, to secure a first-mover advantage, the trader paid a transaction fee of 49 $SOL, ensuring they were one of the first to purchase the tokens. Once the BUZZ tokens were acquired, the trader acted fast. In just 8 minutes, they sold all their holdings for 6,090 SOL, equivalent to $1.26 million. After eliminating the initial investment and transaction fees, the trader earned a profit of $1.25 million. Role of Sniping in Crypto Trading Sniping in crypto refers to quickly buying tokens ahead of others, hoping to sell at a higher price shortly after. While highly rewarding, it is a risky strategy that demands expertise and precise timing. Such trades underscore the evolving nature of the crypto market, where timing and strategy can lead to extraordinary gains.
