In an astonishing feat of trading, a cryptocurrency whale known by the short address 0x456 managed to turn 1 Ethereum into an incredible $550,000 in less than three weeks.
This represents a return of 27,500%, a feat that has stunned the crypto community.
Whale First Tried His Luck on New Memecoins
Starting with just 1 ETH, 0x456's initial transactions were relatively small and focused on tokens such as BONK, CLIPPY, and ZUZU. These trades, held for only a few minutes at a time, allowed him to gradually accumulate a small chunk of ETH for larger positions.
When 0x456 purchased Morra Games' token, MORRA, he was still trying his luck by trading more than 50 tokens. This purchase was the whale's first significant gain. After purchasing this token at launch, he sold it little by little over the next week, making a total profit of 17x.
Just two days after the MORRA transaction, 0x456 purchased P3PE, a token mentioned in a message from the Euler attacker to the KyberSwap hacker. He purchased 3 ETH of the token just two hours after the message was sent and capitalized as the news spread on Twitter. This smart move earned him 16 times profit and almost $100 thousand.
However, his biggest trade came five days later, when he purchased GEC for $6600 at launch. So far he hasn't sold any of them and these tokens are currently worth over $200k.
To date, 0x456 has bought and sold over 300 token pairs and currently has a wallet balance of over $550k. That's a return of over 250x from where it started.
*This is not investment advice.