A crypto trader achieved a 12x return by selling all 881,000 Resistance Dog (REDO) tokens, earning 107,275 SOL, or $606,000.
Despite Telegram CEO Pavel Durov’s arrest, a crypto trader who profits from meme tokens in the TON ecosystem has recorded a substantial profit. The crypto trader recently generated a 12x profit by selling Resistance Dog (REDO) within the TON network.
Crypto Trader Makes Massive Profit On TON Ecosystem
The price of TON Blockchain experienced a 200% increase after the rebranding of the logo was rebranded to the REDO token logo.The trader in question achieved an extraordinary profit of 107,275 SOL, equivalent to $606,000, by selling all 881,000 REDO tokens.
This transaction yielded a 12x return on the crypto trader’s initial investment in REDO. Additionally, it is considered one of the most profitable transactions in the TON ecosystem, according to TonViewer.
TON Blockchain is experiencing a recent surge in popularity following Pavel Durov’s detention in France, has adopted the Resistance Dog logo. Several traders capitalized on the token price’s surge to a high of $0.94 today.
However, a portion of the community has also transitioned to alternative tokens in response to the scrutiny that Telegram is currently facing.The trader’s triumph did not conclude with REDO.
Additionally, he realized substantial profits from trading other meme coins within the TON ecosystem. He acquired 5,207 TON, which is equivalent to $29,400, through transactions that involved Ton Inu (TINU).
He realized a 35x return on the TINU meme cryptocurrency sale. Furthermore, he achieved a remarkable 62x return by trading Paper Plane (PLANE), which resulted in 3,118 TON and a value of $17,600.
For a total of 11 meme coin transactions, the trader achieved a win rate of 54.5%. His cumulative profit from these transactions was about $652,000, or 115,387 TON, according to blockchain analytics firm Lookonchain.
About Pavel Durov’s Arrest & Public Outrage
The detention of Pavel Durov, the CEO of Telegram, in France has sparked a significant amount of controversy, eliciting responses from prominent public figures and tech leaders.
His messaging platform, Telegram, facilitated his alleged involvement in illicit activities, prompting the action. Toncoin, the native token of the TON ecosystem experienced a decline of more than 12% on the day of the arrest.
The allegations include terrorism, money laundering, drug trafficking, and distribution of illegal content. Moreover, French authorities argue that Telegram’s lack of moderation has transformed it into a haven for organized crime.
In response to the arrest, prominent figures like Elon Musk voiced significant support for Durov. Musk, the CEO of Tesla, expressed his dissatisfaction with the situation, political figures such as Robert F. Kennedy Jr. had also condemned the arrest.
Kennedy tweeted, “France recently apprehended Pavel Durov…” The necessity of safeguarding free speech has never been more pressing. In the face of increased scrutiny within the TON ecosystem, Telegram initiated the #FREEDUROV campaign.
A variety of tech leaders and celebrities supported it, which helped it acquire momentum. Additionally, Justin Sun, the founder of Tron, has committed $1 million to Durov’s legal defense, provided he obtains sufficient community support.
In addition, Andrew Tate proceeded to inquire about the law enforcement in France.
