Trader Turns $5,245 into $2.16 Million in 40 Minutes
A crypto trader reportedly turned $5,245 into over $2.16 million in less than an hour on October 9. The trades involved a new memecoin called BNBHolder on the BNB Chain.
Data from blockchain analytics platform Lookonchain shows the trader, using wallet address 0x94ac8d, bought and sold millions of BNBHolder tokens within 40 minutes. Within an hour of the token’s launch, at least 13 wallets earned over $1 million each from trading BNBHolder.
The trader spent 4 BNB (about $5,245) to buy 41.11 million BNBHolder tokens. Then, they sold 33.55 million tokens for 956 BNB (around $1.25 million) and kept 7.55 million tokens valued near $906,000. This resulted in a net profit exceeding $2.15 million, a 410% return.
Screenshots of transactions show some accounts made between $1.2 million and $2.9 million in profits. These accounts still hold tokens worth hundreds of thousands more. At the same time, BNBHolder’s market cap surpassed $70 million. The token had $3 million in liquidity and a 24-hour trading volume close to $373 million, according to DEXScreener.
At the time of writing, BNBHolder trades at $0.00376 with a market cap of $37 million.
MemeRush Feature Sparks Interest on BNB Chain
The trades happened shortly after Binance Wallet launched its new “MemeRush” feature. This timing led to speculation about possible insider knowledge before the public launch.
MemeRush helps users discover and trade trending meme tokens on BNB Chain. The platform is currently experiencing a large increase in meme coin trading. This surge has driven BNB Chain’s decentralized exchange (DEX) trading volumes to new highs among blockchain networks.
Binance announced MemeRush on October 9, highlighting its partnership with Four Meme and offering users 4x Alpha Trading Volume rewards.
BNB Chain Sees Massive Growth in Meme Coin Trading
- BNBHolder’s market cap exceeded $70 million shortly after launch.
- 24-hour trading volume reached nearly $373 million.
- BNB Chain’s DEX trading volumes surged, leading blockchain networks.
This growth reflects a broader trend of rising interest in meme tokens on BNB Chain.
