In 2023, several traders, with their smart decisions and to-the-point actions in the realm of cryptocurrency, became millionaires. Recently, on January 17, 2023, a trader turned $300 into $1.03 million after noticing a small detail on Elon Musk’s X (previously Twitter) profile.
This is how the trader turned $300 into $1.03 million
According to the on-chain analytics firm Lookonchain, a trader withdrew 4.313 Ethereum (ETH) worth around $10,113 from Binance when he observed that Elon Musk had changed his X profile to CTO (Chief Troll Officer). The trader then used all these funds to buy 19.37 TROLL tokens. As word got out about Elon Musk’s action, the TROLL token significantly surged.
The trader initially sold 9.37 trillion TROLL for 5.318 Ethereum, worth around $12,467. Currently, the trader holds 10 trillion TROLL, valued at $1.03 million. This is how, by noticing a small change in Elon Musk’s profile, the trader became a millionaire.
The tech giant Elon Musk is known for his market-triggering tweets in the rapidly evolving cryptocurrency industry. Previously, we witnessed Elon Musk’s influence on meme coins like DOGE, JIM, NPC, and WSM, all of which experienced significant upside momentum.
Current struggle of the Crypto industry
As of now, the overall cryptocurrency market is struggling to gain momentum, along with the world’s largest cryptocurrency, Bitcoin. The crypto community also observed that after the approval of the spot Bitcoin exchange-traded fund (ETF), it hasn’t experienced any satisfying movement.
However, on January 16, 2024, the leading on-chain analytics firm CryptoQuant published a market view on X, stating that mean exchange inflows reached their maximum level, and we may experience a potential sell-off in the coming days, especially in Bitcoin.
Bitcoin (BTC), along with other altcoins, including Ethereum (ETH), Binance Coin (BNB), Solana, Ripple (XRP), and other top tokens, is experiencing a downside momentum. This downward trend has persisted for the last 30 days. Currently, Bitcoin is trading near $42,800, and in the last 24 hours, it experienced a modest 0.50% positive momentum. Looking at Bitcoin over a longer period in the last 30 days, it has only experienced a 2% upside momentum.
