A notable story highlights a Crypto trader who turned $378k into $35.2M in just 11 months by investing in OM, a utility-based cryptocurrency.
Over the course of the past 15 years, the cryptocurrency trading business has experienced remarkable and exponential growth, which has enabled the daily trading volume to reach hundreds of billions of dollars.
Bitcoin has made the most significant contribution to this, particularly due to its unceasing expansion. Some trades stand out from the rest owing to their unique location, creating spectacular stories for the community.
Crypto Trader Made $34.8M in Profits
Millions of cryptocurrency investors have been drawn to these trades, and some of these transactions have garnered significant attention. A story like this one describes a cryptocurrency trader who, in just eleven months, was able to turn $378k into $35.2M.
This narrative exemplifies the strength that the cryptocurrency market possesses.Over the past two weeks, the cryptocurrency market has been on an upward trend, which has caused various cryptocurrencies to reach new highs.
Following Donald Trump’s victory in the United States elections and the Bitcoin price reaching a new all-time high of $97,862.64, investors are exhibiting an optimistic sentiment, which is driving this upward trend. Since the beginning of the year, Bitcoin has increased by more than 130% as a result of these developments.
Meanwhile, this bullishness led to a cryptocurrency trader making a fortune by trading in OM, one of the most popular cryptocurrencies. During the course of one year, the trader was able to turn his investment of $378k into $35.2 million, as the Lookonchain post explains.
At a price of $0.04 per token, the trader purchased 9.33 million OM tokens with three different cryptocurrency wallets. They then held all of these tokens in their possession for eleven months until depositing four million OM on Binance just a few hours ago.
Furthermore, he still holds 5.33 million OM, which is valued at $19.86 million, bringing the total value to $35.2 million. Despite the fact that the cryptocurrency trading market has made it possible for crypto traders to gain millions of dollars in a matter of hours or days, this trader elucidated the concept that the slow and steady approach is the most successful.
More crucially, he decided against participating in the memecoin craze and instead chose to use the utility-based alternative cryptocurrency known as Mantra (OM). Due to this, he has amassed a total of $3.48 million in profits in just eleven months. OM has a market capitalization of $3.27 billion, making it the 35th largest cryptocurrency according to CoinmarketCap statistics.
The token’s growth of 6089% year-to-date has attracted an increasing number of investors due to its potential for growth. In just the last two months, the Mantra token has achieved numerous ATH peaks, leading to rewards for its holders. As a result of the persistent price surge, one token holder was able to make profits of $6 million.
Despite the fact that it was only three days ago, the price of OM reached a new all-time high of $4.47. However, since then, the token has entered a consolidation phase, and the investor has been driving the token to an overbuying zone, which has resulted in a trend reversal.
Consequently, the token’s price has dropped 19% in three days to $3.61. However, the strong buying pressure on the token provides optimism. However, the most important point is that Binance recently announced that the OM/USDC pair will go live on November 22.
This could potentially drive the demand for the token even higher.With just one token, this cryptocurrency trader has gained $34.8 million in earnings thanks to the exact trading tactics they have implemented. At a time when the price of OM tokens was only $0.04, the trader had paid $378K and purchased 9.33 million of them.
However, during the course of eleven months, the price of OM increased by 6089%, resulting in substantial profits for those who held it. Because of the investor’s emphasis on holding onto cryptocurrency and trading at the optimal time, the cryptocurrency community has been impressed. Even more significant is the fact that he still holds a significant portion of his tokens in his personal wallet, indicating that he is anticipating a significant increase.