Crypto trader makes $873,000 in 2 days from $1,700
An unnamed trader made a 490-fold return on their Comedian (BAN) token investment during the meme coin boom.
On October 27, Lookonchain reported that the trader converted a $1,795 investment in the BAN/SOL pair on the Raydium automated market maker (AMM) platform into $873,000 in two days.
The trader used strategy, thus the results were not random. Starting with 10.2 Solana (SOL), the investor secured 36.27 million BAN tokens.
The investor avoided selling everything at once as BAN rose, cashing in on his profits progressively.
The traders liquidated parts of their shares after each price high to profit while remaining exposed to the meme coin's ascent.
In the first rise, the investor sold 12 million BAN for $56,900. Nearly 90% of BAN's value collapsed shortly after. When BAN rose again, they sold 6.13 million tokens for $80,700, increasing their total gains to approximately $137,000.
At the conclusion of their run, they had 18.13 million BAN worth $734,000, totaling $873,000.
Reasons BAN price rose
“Comedian,” Maurizio Cattelan's 2019 banana duct-taped to a wall, went popular owing to its discussions about consumerism and the art industry, inspiring the BAN meme currency.
After Sotheby's revealed that one of Comedian's three “editions” would sell for at least $1 million, the artwork grabbed notice.
Social media talk about this extraordinary value has raised BAN's price. BAN also gained impetus from listings on Poloniex, where full trading began on October 27.
