Trader Bags $6.7m In 3 Hours With SAVM Token

In a display of crypto prowess, an anonymous trader made $6.7 million profit within three hours through strategic maneuvers in the highly anticipated launch of the Ethereum-based token, $SAVM.

Anonymous Trader’s SAVM Token Mastery Unveiled

Lookonchain, a leading on-chain data tracker, unveiled the details of this remarkable feat. A single wallet, shrouded in mystery, capitalized on the enthusiasm surrounding the launch of Satoshi VM (SAVM). That is a Layer 2 network for the Bitcoin blockchain, propelling itself into the crypto limelight.

In just 3 hours, this trader made ~$6.77M on $SAVM!

He used #BananaGun and a bribe fee of 141.66 $ETH to be the first one to buy $SAVM at the opening, buying 2.61M $SAVM with a total cost of 277.66 $ETH($681K).

Now he is selling $SAVM and has sold a total of 2.16M $SAVM for… pic.twitter.com/F21Te2NTRH

— Lookonchain (@lookonchain) January 19, 2024

The project’s Thursday launch triggered a frenzy as it garnered attention from influential figures in the crypto space, including endorsements from MacnBTC and Crypto Kaduna, boasting followers in the hundreds of thousands.

Seizing the opportunity, the anonymous trader executed a strategic move by paying a staggering “bribe fee” of 141.66 ETH (equivalent to around $140,000) to front-run the contract wallet drop. This audacious maneuver allowed the trader’s transaction to leapfrog others, securing 2.61 SAVM tokens for 277.66 ETH.

Despite the hefty premium fee to miners, the trader’s total investment stood at approximately $700,000. A gamble that paid off handsomely, as the value of the SAVM tokens surged in the subsequent hours.

Trader Bags $6.7M Through $SAVM In 3 Hours

Within three hours, the trader witnessed their holdings exceed $6.7 million. The savvy investor decided to cash in on the meteoric rise, selling 2.16 million tokens through a decentralized exchange for an initial sum of $4.38 million, reaping a colossal profit of $3.6 million from this transaction.

At the time of reporting, the trader astutely liquidated their entire SAVM portfolio. They brought its balance to zero but left behind a legacy of more than $6 million in profit earned within a single day.

The launch of the Ethereum-based SAVM token has sent shockwaves through the crypto community, exceeding expectations and swiftly surging past its Initial DEX Offering (IDO) price. The project saw overwhelming interest, with 47,000 participants vying for a spot, underscoring the immense popularity fueled by influential endorsements.

As influencers continue to champion the cause of $SAVM, the token has surpassed the $100 million market cap milestone within hours of its debut.

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