In the last 15 years, the crypto trading industry has grown exponentially and impressively, facilitating hundreds of billions in daily trading volume. Bitcoin has played the biggest role in this, especially with its constant growth. It has attracted millions of crypto investors and cryptocurrencies, and some trades stand out from the rest due to their unique placement, creating impressive stories for the community. One such story talks about this crypto trader who has turned $378k into $35.2M in just eleven months, clearly portraying the power of the crypto market.
Crypto Trader Made $34.8M in Profits
The crypto market has rallied in the last two weeks, pushing many cryptocurrencies to new peaks. This is happening with a bullish sentiment among investors following Donald Trump’s win in the US elections and the Bitcoin price attaining new ATH at $97,862.64. With that, BTC has surged more than 130% since the beginning of the year.
Meanwhile, this bullishness was established, and a crypto trader built a fortune with crypto trading in OM, one of the most popular cryptos. As the Lookonchain post reveals, the trader turned his $378k investment into $35.2M within a year. This happened when the trader bought 9.33M OM tokens with three crypto wallets at $0.04 and kept holding all these tokens for 11 months before depositing 4M OM on Binance a few hours ago. More importantly, he still holds 5.33M OM, worth $19.86M, bringing the total to $35.2M.
Without trading #memecoins, the whale turned $378K into $35.2M in just 11 months, a massive profit!
The whale(related to #ManifoldTrading) accumulated 9.33M $OM($378K) at $0.04 11 months ago and deposited 4M $OM($15.32M) to #Binance 4 hours ago, leaving 5.33M $OM($19.86M).… pic.twitter.com/9JlS3ZOW0y
— Lookonchain (@lookonchain) November 21, 2024
Though the crypto trading industry has created opportunities where crypto traders earn millions in just a few hours or days, this trader clarified how slow and steady wins the race. More importantly, he ditched the memecoins trend and opted for a utility-based altcoin Mantra (OM). As a result, he has bagged $3.48M in profits in just 11 months.
OM Price Attained an ATH With a 6089% Surge
OM is the 35th biggest cryptocurrency on CoinmarketCap, with a market capitalization of $3.27B. This happened after the token grew 6089% in YTD, attracting more and more investors with its growth potential. In the last two months alone, the Mantra token has achieved multiple ATH peaks, rewarding its holders. One token holder made $6M in profits, benefitting from the constant price rally.
Even recently, the OM price attained a new ATH of $4.47 just three days ago. However, since then, the token has entered a consolidation phase, with the investor pushing the token to an overbuying zone, leading to a trend reversal. As a result, the token price has decreased 19% in three days, currently at $3.61. However, there is hope with the strong buying pressure on the token.
More importantly, the recent Binance announcement confirmed the OM/USDC pair listing on November 22, which might push the demand for the token even higher.
Bottom Line
With accurate crypto trading strategies, this crypto trader has made $34.8M in profits with just one token. The trader has spent $378K and bought 9.33M OM tokens when the price was just $0.04. However, over the 11 months, the OM price surged $6089%, making heavy profits for its holders. The crypto investor has impressed the crypto community with the focus on HODL and the right time trading. More importantly, he still has a major portion of his tokens in his personal wallet, which suggests he is awaiting even a bigger rally.
The post The Story Behind a Crypto Trader Turning $378K into $35.2M appeared first on CoinGape.