A cryptocurrency trader has turned a $120 investment into more than $205,000 after making an early bet on the BNB Chain meme coin NiuLai.
The trader purchased 19.1 million NiuLai tokens for just $120 before the token surged in value.
The wallet later sold 9.1 million tokens for approximately $25,900 while retaining 10 million tokens worth about $180,200 at the time of reporting, according to on-chain data shared by Lookonchain on August 16.
Combined realized and unrealized gains stood at roughly $205,800, representing a return of more than 822 times the initial investment.
On-chain data shows the trader entered the position when the token’s market capitalization was just $6,270.
Trader’s NiuLai transaction. Source: Lookonchain
As interest in the asset accelerated, NiuLai’s market value climbed into the tens of millions of dollars. The trader’s average selling valuation was approximately $2.82 million, highlighting the scale of the move.
The wallet still holds mor
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