A crafty crypto trader has made $3 million in just an hour after investing in a newly listed coin on Binance. The trader, who utilized a strategy previously shared by Lookonchain, kept his eyes on Binance for new listings. As soon as Binance announced the listing of the $ACT coin, the trader spent 1,558 $SOL, valued at $318,000 at the moment, to buy 10.9 million $ACT tokens.
The trader’s smart strategy paid off shortly after his $ACT holdings surged to $3.4 million. This quick but effective move is, however, not new to investors. Previously, other investors have used the strategy of investing in newly listed coins to make profits.
According to Lookonchain, “We have shared this strategy before. If you read (our) post and took the time to learn how to monitor and automate your trades, you are now the one making money.”
We have shared this strategy before.
If you read this post and took the time to learn how to monitor and automate your trades, you are now the one making money.https://t.co/yn1u0cbFFq— Lookonchain (@lookonchain) November 11, 2024
Another Trader Made $140K Using the Same Strategy
The strategy was highlighted earlier in a post by Lookonchain. Lookonchain tweeted about another trader that made $140,000 in 20 minutes when Binance listed the $MOODENG perpetual contract. The trader used 1,300 $SOL to purchase 2.77 million tokens and profited quickly, thanks to the sudden demand for the newly listed asset.
Both traders pinpoint a common strategy for professional traders: close follow-up of large exchanges and automating trading on big listing announcements. Meanwhile, Binance and other platforms of the same influence have become the concentration points for this kind of trading activity.
Advice For Traders Hoping to Utilize the Crypto Trading Strategy
If you are trying to replicate the success story of the trader who made a $3 million profit in just an hour, you need to have a set-out strategy. First, you must know how to monitor and track new listings, especially on Binance.
You will then need to be prepared to make a quick move; this step is crucial as the strategy relies on speed. Additionally, you need to know how to automate the process, as it makes all the difference in reaping profits from market fluctuations.
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