A crypto trader controlling wallet 0x30f10c… managed to turn an investment of approximately $9,645 into about $282,000 in a few hours by monitoring the public activity of Binance founder Changpeng Zhao, known as CZ.
Photo: chatgpt.com
When Zhao burned 4,444 Marscoin (MARS) tokens, the trader instantly spent 16 BNB, valued at around $9,645 at the time, to purchase 84.61 million MARS, according to Lookonchain data.
To execute the transaction as early as possible, the trader set a gas price hundreds or even thousands of times higher than usual. The transaction fee amounted to $9.93.
After the purchase, they employed a strategy of “doubling down and withdrawing the initial investment.” When the asset’s value doubled, the trader sold 42.3 million MARS—approximately half of their tokens—for 16.4 BNB, effectively recouping their initial outlay.
Consequently, the wallet held the remaining 42.3 million MARS, which could be considered risk-free profit on the initial capital.
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Profitability reached approximately 2,840%
Instead of selling the remaining tokens immediately, the trader gradually reduced their position, maintaining the potential to earn more if MARS continued to rise.
Ultimately, the remaining 42.3 million MARS were sold for 465 BNB, which were worth approximately $282,000 at that point.
Overall, the result represented about 29 times the initial investment, or a profit of nearly 2,840%. According to the source, this wallet became the most profitable among Marscoin traders.
This incident highlights not only the potential advantage of monitoring public on-chain data but also the extreme volatility and risks associated with small-cap cryptocurrencies.
The PSM editorial team notes that for Ukrainian crypto traders, such a story is more illustrative of the specifics of high-risk trading rather than a universal earning strategy. Rapid transactions with illiquid tokens can yield significant profits but can just as quickly lead to substantial losses due to sharp price movements and limited liquidity.
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Based on finbold.com materials.