Robinhood Chain Wallet Scores $4.7M in Profit from Two Trades
A wallet on Robinhood Chain has generated an astonishing $4.7 million in profit from just two trades, one of which is still playing out.
The first trade involved buying $106.5K worth of CASHCAT tokens and selling them all for $672.6K, netting a $566K profit.
The second trade saw the wallet spend $113.7K on 10.2 million PONS tokens, which have already increased in value to roughly $4.2 million at current prices after selling 1.1 million of them for $117.1K.
CASHCAT and PONS are both tokens launched on Robinhood Chain, an Ethereum layer-2 network built on Arbitrum's technology.
The wallet's incredible gains come as the platform token behind Pons, a token-creation and issuance service built on Robinhood Chain, has been generating significant fees in WETH that get used to repurchase and burn its own supply.