A crypto investor earned hundreds of thousands of dollars thanks to a meme coin launched by the Binance-backed decentralized exchange (DEX).
According to data from the on-chain analysis platform Lookonchain, an investor made $407,000 from a recent PUMP transaction of a meme coin launched by BakerySwap, a Binance-backed decentralized exchange.
The investor made a $174,000 purchase of PUMP right after its launch, paying a high transaction fee to be among the first to buy on the exchange.
After the purchase, the investor waited just 10 minutes and took advantage of the price increase, selling all of the PUMP assets for $581,000, resulting in a 234% profit. In just 10 minutes, the investor earned 702 BNB, valued at $407,000.
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