Trader Doubles Down on Altcoin in 60 Minutes, Bags $201,000 Profit
A recent transaction involving the altcoin STANDARD has caught the attention of traders and analysts. According to Lookonchain's September 15 post, a trader identified by the tag '0x6910' made a significant profit on their investment in the token.
The trader purchased approximately 1.14 million STANDARD tokens for 80 ETH, which is equivalent to around $201,000 based on the value stated in the post. About an hour later, they sold the tokens for 160 ETH, effectively doubling their initial purchase and earning a profit of $201,000.
The transaction drew attention due to the significant scale involved. At the time, STANDARD's market capitalization was around $33.1 million, with liquidity at approximately $16 million. The token's trading volume was also notable, reaching $37.4 million in just a short period.