In less than two months, $5,650 turned into about $2.4 million, more than 400 times over.
It all started on July 14, when Robinhood Chain had been live for only two weeks. An account named CUMBUCKET.ETH put in 3.17 ETH to buy 4.73 million tokens at an average price of only about $0.0012.
What he bought was PONS, the native token of the Pons token-creation platform. The platform lets anyone create a new coin for about $1, and it uses most of its revenue to buy back and burn PONS.
By late August, the token-issuing craze on Robinhood Chain was heating up. In early September, Pons launched nearly 25,000 new coins in a single day, with trading volume reaching $544 million, and PONS rose to above $0.6.
After the price climbed, he began selling in batches. In the end, he sold 3.73 million tokens and recouped about $1.74 million, while still holding 1 million tokens.
By September 4, the remaining PONS were worth about $666,000. Including the money already recovered, the total value of the trade was $2.406 million. After subtracting the initial $5,650 investment, the profit was about $2.4 million.
$BTC
It all started on July 14, when Robinhood Chain had been live for only two weeks. An account named CUMBUCKET.ETH put in 3.17 ETH to buy 4.73 million tokens at an average price of only about $0.0012.
What he bought was PONS, the native token of the Pons token-creation platform. The platform lets anyone create a new coin for about $1, and it uses most of its revenue to buy back and burn PONS.
By late August, the token-issuing craze on Robinhood Chain was heating up. In early September, Pons launched nearly 25,000 new coins in a single day, with trading volume reaching $544 million, and PONS rose to above $0.6.
After the price climbed, he began selling in batches. In the end, he sold 3.73 million tokens and recouped about $1.74 million, while still holding 1 million tokens.
By September 4, the remaining PONS were worth about $666,000. Including the money already recovered, the total value of the trade was $2.406 million. After subtracting the initial $5,650 investment, the profit was about $2.4 million.
$BTC
