Despite the broader crypto market downturn, a savvy trader managed to achieve a staggering $3.2 million profit from an initial investment of just $2,137.
The unidentified trader capitalized on the launch of the Hyperfy (HYPER) token, converting their modest investment into over 1,500 times its original value in just 10 hours. According to blockchain analytics platform Lookonchain, the trader sold 17.88 million HYPER for 10,286 SOL (worth $2.21 million) while still holding 4.12 million HYPER valued at $1.03 million.
The HYPER Token Surge
Launched on January 6 at 1:45 am UTC on Raydium, HYPER serves as the utility token for the Hyperfy metaverse and gaming platform. The token reached an all-time high of $0.26 by 12:30 pm UTC before dropping to $0.19 later that afternoon. Its market cap now exceeds $198 million.
Success Stories Amid Market Slumps
While the crypto market struggles with low liquidity, some traders have managed to secure impressive gains. In late December, another trader made $1.1 million in unrealized profit from a 5x leveraged short position on Ether (ETH). Similarly, a different trader turned $27 into $52 million during the PEPE memecoin rally by holding their position for over 600 days.
Despite market corrections, stories of massive returns highlight the potential for savvy trading in volatile markets, particularly in the memecoin and metaverse sectors.
