One trader has recently been in the news for making a significant amount of profit through investing in cryptocurrency. The past year has been very successful for the trader, as they have managed to make an estimated $1.7 million in profits by selling LSD tokens and swapping LDO and RPL tokens. To get to this point, the trader had invested in $LDO and $RPL one year ago and held the tokens for that duration.

Their investment in $LDO at the start of 2022 paid off massively, when they sold 1.536 million $LDO tokens for $2.33 per token, which was an increase from the initial purchase price of 1.68 per token. This resulted in an overall profit of around $1 million for the trader. The trader also swapped out a large number of $RPL tokens, which saw them buy 61,500 RPL with 600 ETH, and a later purchase of 59,200 RPL with 2 million USDC. This accumulated to a total of 120,700 RPL tokens worth $34.4 each, totalling around $4.2 million. The trader then swapped 65,400 RPL tokens to 1,500 ETH at $44.5, resulting in a total profit of $661,000. Because they still hold 55,400 $RPL tokens, they have an unrealised profit of $449,000.

This case shows the great potential opportunities that are available when trading cryptocurrency, with the right knowledge and investment opportunities. While it should be noted that such large profits are not always achievable, it does show the rewards available when done correctly. Trading cryptocurrency should not be done without understanding the market, and proper research should be conducted beforehand to ensure a successful outcome.



Other News from Today