Lucky Meme Coin Trader Turns $140 Into $450,000 in 24 Hours
A trader bought 1 SOL worth of a new Solana meme coin called Pochita. A day later, it's worth $450,000âand they're still holding. A buyer of a new Solana meme coin called Pochita turned $140 into $450,000 in less than 24 hoursâand they still havenât sold the bulk of the coins.
The coin emerged (and surged) after the owner of the meme-famous dog that originally inspired Solanaâs BONK coin adopted a new furry friend called Pochita on Wednesday. The news prompted various crypto degens to create a plethora of meme coins inspired by the pupâand unlike in the so-called Neiro civil war, one token quickly emerged as the winner.
One unidentified trader, using a wallet starting with âAjwF,â bought 1 SOL ($140 at the time) worth of the token just over a minute after it was launched on Pump.fun. They were the 19th person to purchase over 0.05 SOL ($7) worth of this particular Pochita coin, making a relatively big bet on the nascent token.
#WeAreAllSatoshi Interestingly, the trader had already bought and sold two previous Pochita tokens just seconds before identifying the big winner. The trader continued buying and selling coins, including more Pochita tokens, but for some reason held onto this token amid the initial frenzy.
Nearly 24 hours later, the held Pochita token has climbed to a market cap of $22 million, while the discarded tokens failed to make it off the ground. As a result, the initial 1 SOL purchase is now worth over $450,000, according to DEX Screener, after AjwF sold just $450 worth in the hours since the initial buy. This makes the trader the largest holder of Pochita with 2.18% of the supply.
Blockchain analytics visualization company Bubblemaps told Decrypt that there are no immediately noticeable on-chain links between early buyers, and that most have already sold their bags amid the rise. This is often a sign that the token is not controlled by insiders, although the firm warned it cannot be 100% sure at this stage #SECAppealRipple #BinanceLaunchpoolHMSTR #BTCReboundsAfterFOMC
Trading cryptocurrencies responsibly requires you to manage multiple aspects of your trading behavior. It doesnât start and end with the buy or sell button. Try and incorporate as many of the tips below as possible into your routine. It might seem like a lot of advice, but they will help to improve your trading skills.
đąSecure your trading account and wallet
đBefore you even start trading, the best thing you can do is secure your account. No matter how responsibly you plan your trades, itâs worthless if your funds, account, and password are compromised. There are multiple ways to do this, including using two-factor authentication (2FA), creating a strong password, and whitelisting withdrawal addresses.
If you also use an external cryptocurrency wallet, the same rules apply to your private key. You should never share your private key or seed phrase with others, just like your bank account details.
In today's digital world where our personal data is often at the mercy of centralized systems, decentralized identity management offers a revolutionary shift putting you in charge of your digital identity.
Think of it like having a digital passport that you fully control, without needing a central authority to verify your identity. With decentralized identity management, you can share only the information you choose, preserving your privacy and security.
Picture applying for a loan where you only disclose your credit score, not your entire financial history. Decentralized identity management allows for this selective sharing, protecting sensitive data like income and employment details.
By leveraging blockchain and cryptography, decentralized identity management ensures that your identity is secure, private, and verifiable. Itâs a step towards true user sovereignty, promoting trust and interoperability across platforms.
This shift aligns with the core principles of decentralization, empowering you to control your digital footprint like never before.
Token migration is like a crucial software update for your crypto essential for keeping up with technological and market shifts. Itâs the process of moving tokens from one blockchain to another, ensuring they retain their value and functionality.
Just as your phone needs updates to access new features and security, cryptocurrencies often need to migrate to improve security, scalability, and efficiency. For example, if "GreenCoin" decides to switch from a proof-of-work to a proof-of-stake mechanism, token migration ensures holders can continue using their tokens without a hitch.
Understanding token migration is key for investors and users to navigate the evolving crypto world. Itâs not just an upgrade; itâs how projects stay competitive and deliver better services.
Tether Invests $100M in Agriculture Amid Stablecoin battle
Tether the powerhouse behind USDT has taken a bold step into the agriculture sector by investing $100 million in Latin American agribusiness giant Adecoagro. This move gives Tether a 9.8% stake in the company, marking its first significant venture outside of crypto.
As the stablecoin market heats up with new players like PayPal's USD-pegged coin and Ripple Labsâ RLUSD, Tether's investment in Adecoagroâa leader in Argentinaâs dairy and Brazil's sugar, ethanol, and energy sectorsâsignals its strategy to diversify and solidify its position.
Tether isnât stopping here. The company plans to launch a dirham-backed stablecoin in collaboration with UAE-based firms, reinforcing its influence in the global digital economy this highlight its intent to remain a dominant force.
Multisig (multisignature) wallets require multiple private keys to authorize transactions, distributing control across several users. This setup offers more security than traditional wallets controlled by a single key holder.
Types of Multisig Wallets:
- 1-of-2 Signatures: Either of the two key holders can approve transactions independently. - 2-of-3 Signatures:Requires two out of three keys, offering flexibility and added security. - 3-of-5 Signatures: Four offline keys and one with a security provider; two offline keys needed for access.
Pros: - Security: Reduces risk by spreading control across multiple key holders. - Transparency: Open-source contracts ensure auditability. - Flexibility: Contracts can be customized to meet changing needs.
Cons: - Complex Setup: May require technical know-how. - Legal Issues: Disputes among key holders can lock funds. - Higher Fees: Multiple signatures increase transaction costs.
Use Cases: â Escrow Protection:Ensures secure transactions with a 2-of-3 wallet setup. â DeFi Projects:Facilitates decentralized, collective decision-making. â Collaborative Ownership: Safeguards shared crypto assets with consensus-based approvals.
To Create a Multisig Wallet choose co-signers, set the required number of signatures, and share the master public key with all participants. Once co-signers are added, transactions will require approvals from the designated number of key holders.
Multisig wallets are ideal for teams and organizations, off
Spot bitcoin-ETFs recorded the longest outflow of funds since the start of trading - $1.2 billion. Meanwhile, BTC is trying to move from correction to sideways, having recovered to $55k. This scenario is relevant if the local support level of $54,500 đ€ remains in place.
The week will be full of important events that may affect the markets: âȘïž September 9 - Apple's new product launch. âȘïž Sept. 10 - Harris and Trump debate. âȘïž September 11 - US inflation for August đ
Slashing is a key safeguard in blockchain networks, penalizing validators for bad behavior like double-signing or failing to validate blocks. This encourages responsible action and ensures network security.
In trading, slashing also refers to significant losses due to poor decisions or market volatility. Just as validators must follow protocol rules to avoid penalties, traders should use stop-loss orders to protect their capital.
By understanding slashing, both validators and traders can avoid costly mistakes and help maintain a stable and fair ecosystem.It serves as a protective measure, safeguarding the integrity of blockchain networks and trading environments.
JUST IN: đșđž Kamala Harrisâ campaign uses fake news headlines and descriptions on Google ads to make it look like corporate media publishers support her - Axios
Monetary policy refers to the actions taken by a nation's central bank to regulate the money supply and the cost of borrowing in the economy. Monetary policies are used to achieve specific economic goals, such as controlling inflation, managing employment levels, or encouraging economic growth.
To implement monetary policy, central banks can adjust interest rates, conduct open market operations (OMOs), and alter reserve requirements for commercial banks. By influencing the supply and cost of borrowing money, they can either increase economic activity or cool down an overheating economy.
How Does Monetary Policy Work?
Monetary policies can be either expansionary or contractionary.
Expansionary monetary policy
Expansionary monetary policies typically involve lowering interest rates while increasing the money supply to stimulate economic growth. They are often implemented during recessions or periods of low economic activity. The goal is to make borrowing cheaper, encouraging consumers to spend and businesses to invest, thereby boosting overall economic activity.
Imagine that the central bank of Country X wants to stimulate the economy by lowering interest rates. Jane and John, residents of Country X, notice that borrowing costs have decreased. Jane decides to take out a loan to start a new business, while John takes advantage of lower interest rates to buy a new home. As such, demand for goods and services increases, leading to job creation and further economic activity.
Example: 2008 financial crisis
During the 2008 financial crisis, the U.S. government implemented an expansionary monetary policy to revive the economy. They lowered interest rates and introduced quantitative easing (QE), i.e., buying government and mortgage-backed securities. This increased the money supply and made borrowing cheaper. Consequently, consumers spent more, businesses invested more, and the economy began to recover.
Contractionary monetary policy
Contractionary monetary policy involves raising interest rates and decreasing the money supply to slow economic growth and combat inflation. By making borrowing more expensive, the central bank aims to reduce spending and investment, decreasing overall demand and cooling down the economy.
Imagine that the central bank of Country Y wants to control rising inflation by increasing interest rates. Residents Sarah and Mike find that the cost of borrowing has gone up. Sarah decides to delay her plans to expand her business, and Mike postpones buying a new car. Consequently, consumer demand falls, and businesses see a decline in sales, which helps lower inflation and stabilize prices.
Example: early 1980s
In the early 1980s, the Federal Reserve used a contractionary monetary policy to combat high inflation in the United States. The Fed raised interest rates, making borrowing more expensive. This successfully brought down inflation but also led to a temporary increase in unemployment. #BinanceLaunchpoolTON