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According to data from Lookonchain dated October 25, an experienced trader is capitalizing on Binance‘s new altcoin listings to achieve substantial profits. Following the announcement of perpetual futures contracts for the altcoin MOODENG, this trader purchased 1,300 SOL (approximately 2.77 million MOODENG) and quickly increased their investment to 2,109 SOL within minutes. This move resulted in a profit of 809 SOL, roughly equivalent to $140,000, showcasing a remarkable strategy of speed and profitability.
Repeat Success with Similar Strategies
On October 24, the trader also gained profits from Binance’s listing of another altcoin called GOAT using a similar strategy. That day, the trader earned a total profit of 99 SOL (around $17,000) from their transactions.
This strategy illustrates how the trader closely monitors Binance’s new listing announcements, enabling them to make significant purchases at announcement times and realize quick sales for profits.
Real-Time Monitoring of Altcoin Listings Yields Profits
The success of this trader highlights the potential for profitable outcomes in the cryptocurrency market through rapid transactions at the right moment. According to transaction data monitored by Lookonchain, the trader’s ability to act swiftly on new altcoin listings from major exchanges like Binance maximizes their earnings.
Caution is advised regarding volatility, as experts note that fast trading strategies may not be suitable for every investor due to market risks.
Such trades demonstrate that new altcoin listing announcements by major exchanges like Binance can create short-term price fluctuations, allowing for significant profits with the right strategy.
