Trader Makes $7.4M In Profit From Trading VINE Coin! Price Jump By 50%

The post Trader Makes $7.4M In Profit From Trading VINE Coin! Price Jump By 50% appeared first on Coinpedia Fintech News

A seasoned trader has caught the attention of the crypto community after showing exceptional skill in trading VINE tokens, pocketing an impressive profit of approximately $7.4 million. Blockchain analytics platform Lookonchain highlighted this trader’s calculated moves and ability to capitalize on market opportunities. 

However, Vine token price has surged nearly 50% in the past two days following Binance’s announcement of futures listing for the cryptocurrency.

The $70K Gamble That Paid Off $7.4M

Two days ago, the trader made a massive move by investing $70,000 to purchase 14.64 million VINE tokens. This decision quickly proved fruitful as they sold 9.96 million of these tokens for $2.36 million. 

Despite offloading a such portion of its holding, the trader yet holds 4.67 million VINE, currently valued at $1.73 million. This series of trades brought them a massive profit of about $4 million from this single investment.

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Doubling Down With Another Wallet

This savvy trader’s trade didn’t stop here, the trader re-entered the market just nine hours ago. This time using another wallet, they invested $1.69 million to acquire 13.81 million VINE tokens. 

Interestingly, the value of these tokens has already surged to $5.1 million, giving the trader an unrealized profit of $3.4 million. This highlights their sharp ability to spot and capitalize on market opportunities.

Binance Announces Listing for VINE

Vine Coin has recently gained attention in the crypto world with significant price growth and a new listing. On Friday, its price surged by nearly 60% after Binance announced a futures listing for the token.

According to Binance, its futures platform introduced the VINEUSDT perpetual contract, offering users up to 75x leverage. Following this announcement, Vine Coin’s price saw a remarkable 50% increase and is now trading at $0.2412, with a market cap of $234 million.