In a remarkable crypto trading journey, one investor turned a significant profit of $2.44 million as the TURBO token surged by 10x. Despite a turbulent market, the trader capitalized on a key opportunity, demonstrating how patience and strategic buying can lead to substantial gains.
Crypto Trader’s Journey to $2.44 Million
According to Spotonchain, an AI analytics platform, the trader began investing in the TURBO token on May 5, 2023. Over the course of 1.3 years, the investor purchased over 897 million TURBO tokens at an average price of $0.0004.
In a major move, the trader sold 695 million TURBO for $2.65 million on the OKX exchange, when the token hit $0.003—a 10x increase from the original buying price. This trade alone netted the investor a profit of $1.1 million.
The Investor’s Strategy
The investor likely spent about $287K on the TURBO tokens and, by selling at the right time, achieved a 7.5x return. Even though the trader still holds over $142K in Ethereum and USDT, these assets have suffered a 94% loss due to Ethereum’s recent price decline.
Despite the losses, the investor maintains a profit and loss (PnL) balance of $2.575M, reflecting a +906.377% return. There is also an additional $9,463 in unrealized PnL, which could add to future profits.
TURBO Token’s Rise and Decline
After the 10x price surge, the TURBO token has seen a slight decline, now sitting at $0.003716, down 2.39% in the last 24 hours. However, the token is still up 6% on weekly charts.
As one of the popular meme coins in the market, TURBO has gained attention, particularly due to its AI association, which has driven its demand. The token hit an all-time high of $0.00978 three months ago, raising expectations for its performance in the next bull run.
Conclusion
In a recent crypto trading post by Spotonchain, a trader made heavy profits by selling 695 million TURBO tokens for $2.65 million on OKX. Having bought into the token back in May 2023, the trader took advantage of a 10x price increase, ultimately profiting $1.1 million.
